The following provides information about the fund managers that the FuturePlus Super uses to manage its investments. FuturePlus Super makes its investments using the Chifley Investment Fund (CHIF).

Australian Shares

CHIF has a little under $93 million invested in Australian shares. These assets are managed by two "active" investment managers. "Active" means that these managers use their analysis to make investments in companies that they believe will outperform other companies in the relevant index, and they will change their positions from time to time.

Approximately half of the funds are with BlackRock Investment Management. This fund is a tax-aware quantitative fund that looks at how tax can affect the total return of an individual stock as well as the whole portfolio. Quantitative means the fund manager uses mathematical models to identify attractive and tax-effective stocks which should outperform the index over time.

BlackRock

The other half is managed by Karara Capital. This fund uses fundamental research to identify attractive stocks that they believe will beat the index over time.

Karara Capital

International Shares

Investments in this sector total over $58 million. The structure of this sector differs from the Australian Shares sector, as the International Shares managers are running "semi-passive" funds. A semi-passive fund means that the manager will largely hold the same stocks as the index, but will hold a higher weight in stocks that they expect to outperform and a lower weight in stocks they expect to underperform the index.

The sector is split into two halves with both portions being managed by State Street Global Advisors ("SSgA"). One half of the sector is invested in a semi-passive unhedged fund and the other half in a semi-passive hedged fund. This hedged portion is intended to reduce the currency risk involved with investing in shares in foreign currencies.

State Street Global Advisors

Fixed Income and Cash

CHIF has nearly $140 million of fixed income assets made up of:

Australian Government Bonds	48.1%
Australian Corporate Bonds	16.0%
Australian Cash	8.6%
International Government Bonds	27.3%

The majority of the Australian Government Bonds is managed by Schroder Investment Management. This is a semi-passive fund that generally replicates the index. A smaller portion of the Australian Government Bonds is managed by Macquarie Investment Management who is also the sole manager of the Australian Corporate Bonds. The Australian Corporate Bond fund guarantees the return of the index to investors and has proved to be very successful at this.

Schroder Investment Management

Macquarie Investment Management

The Australian Cash portion is managed by QIC, formerly known as the Queensland Investment Corporation. This fund is an enhanced index fund, which aims to produce returns in excess of the index over time. It largely holds cash instruments with a few derivatives and fixed interest products held with the aim of beating the benchmark.

QIC

The International Government Bonds are managed by SSgA. This fund is passive with the aim of replicating the index returns.

SSgA

Property

CHIF invests around $16 million in Australian Listed Property Trusts through Macquarie Investment Management. Like Australian Corporate Bonds, this Australian Listed Property Fund guarantees the return of the index to investors.

This information is correct as of 20/09/10