The Australian Masters Corporate Bond Fund series ('AMCBF') provided investors with the opportunity to gain access to a diversified portfolio of quality corporate bonds, not usually accessible to retail investors. The funds provided exposure to a diversified portfolio of bonds issued in Australia and denominated in Australian dollars.

INVESTMENT OBJECTIVES

The three key investment objectives of the Companies are:

• To provide investors a high rate of income and consistent fully franked dividends and the potential to receive capital returns throughout the life of the Companies;
• To minimise default risk by investing in Investment Grade corporate bonds issued in Australia and denominated in Australian dollars;
• To minimise costs of the Company.

INVESTMENT GUIDELINES

Under the Companies Management Agreements, the Manager is permitted to undertake investments on behalf of the Company in consultation with the Company's Board.

The Manager is able to select corporate bonds that comply with the following investment criteria:

• Australian dollar denominated corporate bonds issued in Australia;
• Credit rating of 'BBB-' or higher on all underlying corporate bonds;
• Maturity dates which are not longer than the anticipated final capital return date as specified by each fund.

Risks

Like all investments, an investment in the Fund carries risk and these risks are set out in detail of Section 5 of the PDS