FOR FINANCIAL ADVISER USE ONLY

This newsletter has been prepared and issued by IOOF Investment Management Limited, ABN 53 006 695 021, AFS Licence No. 230524 (IOOF) as Trustee of the IOOF superannuation funds and as Service Operator of IOOF Investor Directed Portfolio Services. IOOF is a company in the IOOF Group of companies comprising IOOF Holdings Ltd and its related bodies corporate including IOOF Ltd, ABN 21 087 649 625, AFS Licence number 230522, the issuer of IOOF WealthBuilder, and Australian Executor Trustees Limited, ABN 84 007 869 794. AFSL No. 240023, the issuer of AET Super Solutions including the Private Superannuation Fund.

This newsletter is intended for financial adviser use only. It contains factual information and general financial product advice only and has been prepared without taking into account your or your client's individual objectives, financial situation and needs. The information in this newsletter is not intended to be a substitute for professional financial product or taxation advice and you and your clients should determine its appropriateness having regard to your or your client's particular circumstances. The product disclosure statement or offer document should be obtained before deciding whether to acquire, dispose of, or to continue to hold, an investment in an IOOF product.

The information contained in this newsletter is given in good faith and has been prepared based on information that is believed to be accurate and reliable at the time of publication. All assumptions and examples are for illustration purposes only and are based on the continuance of present laws and IOOF's interpretation of them. IOOF does not undertake to notify recipients of changes in the law or its interpretation. Whilst every effort has been made to ensure that the information provided in this newsletter is accurate, current and complete, neither IOOF nor any related body corporate in the IOOF Group give any warranty of accuracy, reliability or completeness or accept any responsibility for any errors or omissions, including by reason of negligence. Neither IOOF nor any related body corporate in the IOOF Group shall be liable for any loss or damage whether direct, indirect or consequential arising out of, or in connection with, any use of, or reliance on, the information provided in this newsletter.