AGEST -

Hastings Funds Management

Website:  www.hfm.com.au

AGEST and Hastings Funds Management Limited

AGEST has employed Hastings to manage part of the fixed interest portfolio of the fund.  AGEST is invested in the Hastings Yield Fund.

Objective and strategy

The return objective of the Hastings Yield Fund is to exceed the performance of the UBS Bank Bill Index by 3.0% pa (before costs).

The investment strategy is to invest in high yield securities of companies that have a strong market position, mainly secured against hard assets and relatively predictable cash flows. All fixed rate exposures are swapped to floating rate.