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State Street Global Advisors

Last Updated : 28 Jan 2010

Website:  www.ssga.com

AGEST and State Street Global Advisors (SSgA)

AGEST employs SSgA to manage part of the Cash, Australian and International Shares portfolios of the fund.

Objective and Strategy

The investment objectives and strategies for each of the above investment portfolios are outlined below.

Cash

Objective
To outperform the UBS Australia Bank Bill Index. 

Strategy
The investments in the SSGA Cash portfolio are conservative, seeking short term money market returns with strong capital security.  Cash investments in this portfolio include bank bills, certificates of deposit and other similar short term financial securities issued by governments and banks.  Only Cash investments with less than 12 months to maturity are held in this portfolio.

SSgA Australian Equities Index Trust

Objective
To closely track the monthly returns of the S&P/ASX 200 Accumulation Index*.

*This index measures the performance of the largest 200 stocks on the Australian Stock Exchange (ASX).  Dividends paid by companies are included in this calculation of performance.

Strategy
Index replication techniques are employed to achieve broad exposure to Australian shares within the index in accordance with relevant market weightings.

SSgA Global Index Plus Trust

Objective
To exceed the performance of the MSCI World (ex-Australia) Index* with Net Dividends reinvested by 0.75% - 1.00% pa over rolling 3 year periods.

*The MSCI World (ex-Australia) Index measures the performance of major sharemarkets around the world (other than Australia), with each sharemarket's performance contributing to the index in proportion to its relative size by market capitalization.  Dividends paid by companies are included in this calculation of performance.

Strategy
Stock selection techniques, which include value, growth and market sentiment, are employed to assess all companies across the benchmark index.  The Trust invests across a well diversified group of companies with risk characteristics that closely match the MSCI World ex-Australia Index.