Aquisition of JO Hambro Capital Management

Important Notice

Global Fixed Interest Manager and benchmark change in
BT Pooled Superannuation Trusts and Wholesale Funds Management Policies

Please note the following important changes which will affect a number of BT Pooled Superannuation Trusts and Wholesale Funds Management Policies:

BT Investment Management (RE) Limited (BTIM) will manage the global fixed interest component of the funds/policies, which was previously managed by Principal Global Investors Limited (PGI); and
The benchmark of the global fixed interest component of the funds/policies will change from the Barclays Capital Global Aggregate Bond Index Hedged to $A to the JP Morgan GBI Global Traded Index hedged in Australian dollars.

A list of the funds/policies affected by these changes (Funds) is set out below.

Reason for these changes

BTIM’s investment process is expected to achieve a better investment outcome for investors. BTIM manages a diversified portfolio of global fixed interest investments across a broad range of companies, industries and countries which utilises a combination of active and enhanced strategies including cash strategies, duration, credit investments, a currency strategy and a benchmark swap arrangement.

The benchmark for the global fixed interest component of the Funds will be changed from the Barclays Capital Global Aggregate Bond Index Hedged to $A to the JP Morgan GBI Global Traded Index, hedged in Australian dollars to reflect the benchmark of the underlying BTIM global fixed interest wholesale fund. The affected Funds listed will obtain their global fixed interest exposure via this fund.

Timing of change

The transition of assets will commence immediately and is expected to be completed in December 2009. The security and sector allocations as well as the Funds’ foreign currency hedging strategy will be maintained to the extent as reasonably practicable throughout the transition period.

The change of benchmark to the JP Morgan GBI Global Traded Index hedged in Australian dollars will take effect from date the transition of the assets has been completed.

List of Funds affected by the change

BT Balanced Returns PST
BT Conservative Outlook PST
BT Institutional Retirement PST
BT Institutional Conservative Growth PST
BT Institutional Stable Growth PST
BT Super Trust - Capital Stable Fund
BT Super Trust - Investment Fund
BT Life Wholesale Funds Management Policy Capital Stable Portfolio
BT Life Wholesale Funds Management Policy Managed Portfolio

Related sections:

Important Information

BT Investment Management (RE) Limited ABN 17 126 390 627 is the responsible entity and issuer of units in the Fund (other than Pooled Superannuation Trusts). The trustee of the Pooled Superannuation Trusts(Funds) and information about those Funds is set out here. The investment manager for the Funds is BT Investment Management (RE) Limited. Where a product disclosure statement (PDS) is available on this page for the Fund you should obtain and consider the PDS before deciding whether to acquire, continue to hold or dispose of units in the Fund.
BT Investment Management Limited (ABN 28 126 385 822) BT® is a registered trade mark of BT Financial Group Pty Ltd and is used under licence.

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