Performance Summary as at 30 November 2016^

*The Portfolio Benchmark is the MSCI ACWI (net) (as expressed in AUD from Bloomberg). Returns for the periods more than one year are annualised. ^Returns are calculated net of management, performance, administration/ custody and transaction fees, but excluding any adviser fees from the Portfolio’s inception date of 30/6/14, and assumes reinvestment of all income (but not franking credits). Returns are based on the theoretical performance of a portfolio which implemented the Model Portfolio based on simplifying assumptions and stock weightings. Actual individual returns of each client’s portfolio will differ depending on factors such as date of initial investment, timing of transactions, contributions and withdrawals, fees and any customisations. Performance includes dividends attributed to the quarter but not yet paid; actual performance may differ due to the foreign exchange rate applied at payment and by any applicable withholding tax assessed. Past performance is not a reliable indicator of future performance and may not be achieved in the future. Each client should also take into account their own taxation situations. All information provided in this Report is correct as at the date of this Report.