Final Gamma IO Document V7.2 REBRANDED€¦ · IAS, Gamma and Gamma Wealth Group and their directors, officers, employees, and associates may from time to time hold interests in securities

MANAGED ACCOUNTSINVESTMENT OPTIONS DOCUMENT

VERSION 2 MARCH 2017

GAMMAMANAGEDACCOUNTSERVICE

2 GAMMAMANAGEDACCOUNTSERVICE

ImportantInformation

This Investment Options document datedMarch 2017 is issued by IAS. It contains general information only and does notconsidertheinvestmentobjectives,needsorfinancialcircumstancesofanypersonwhomayreadit.

If you are considering using the GammaManaged Account Service, you should read theManaged Account Contract, thisInvestmentOptionsDocumentandtheFinancialServicesGuideofInvestmentAdministrationServicesPtyLimited(IAS)(ABN86109199108,AFSL284316).

Youshouldobtainpersonal financialadvice fromyour licensedFinancialAdviseronwhether theGammaManagedAccountService and a particular Investment Option is suitable for you given your personal objectives, needs and financialcircumstances.

TheGammaManagedAccount Service is amanageddiscretionary account service and is regulatedunderASICClassOrder04/194. It isexempt from themanaged investmentandproductdisclosureprovisionsof theCorporationsAct.TheGammaManagedAccountServiceisnotaninterestinaregisteredmanagedinvestmentscheme.

IASistheoperatorandcustodianoftheManagedAccountService.GammaAssetManagementPtyLtd(ABN:83150762182)(Gamma)istheInvestmentManagerfortheManagedAccountService.Gammamayappointexternalinvestmentmanagerstoassistittomanagetheinvestmentsintheservice.GammaisaCorporateAuthorisedRepresentativeofGammaWealthGroupPtyLtd(ABN56134682330AFSL334040)(GammaWealthGroup).

IASwillappointsub-custodianstoholdtheinvestmentsintheManagedAccountService.Acopyoftheagreementwitheachsub-custodianisavailableforinspectionatIAS’sregisteredoffice.

Investmentsinvolverisk,includingdelaysinpaymentofwithdrawalproceedsandthelossofincomeandcapitalinvested.Pastperformance is not necessarily indicative of future performance. Neither IAS, Gamma or GammaWealth Group and theirdirectors,officers,employees,sub-contractorsandassociatesguaranteethecapitalvalueorthe investmentperformanceofanyinvestmentsacquiredthroughtheGammaManagedAccountServiceunderanyInvestmentOption.

IAS,GammaandGammaWealthGroupandtheirdirectors,officers,employees,andassociatesmayfromtimetotimeholdinterestsinsecuritiesof,orearnfeesandotherbenefitsfrom,corporationsorinvestmentvehicleswhichmaybeheldintheGammaManagedAccountServiceunderanyInvestmentOption.

IAS,GammaandGammaWealthGrouphaveconsentedtobeingnamedinthisdocumentandhaveconfirmedthestatementsattributabletoitorreferringtoitarenotmisleadingordeceptiveatthetimeofissue.

No representation or warranties are made as to the accuracy and completeness of the information contained in thisdocument. To the extent permitted by law, no liability is accepted by IAS, Gamma and GammaWealth Group and theirdirectors,employeesoragentsforanylossordamageasaresultofrelianceoninformationcontainedinthisdocument.

TABLEOFCONTENTS


IMPORTANTINFORMATION.......................................2

GAMMAMANAGEDACCOUNTSERVICE.....................4

OPERATORANDADMINISTRATOROFTHESERVICE....4

THEINVESTMENTMANAGER.....................................5

GAMMAINVESTMENTCOMMITTEE...........................5

GAMMAINVESTMENTPHILOSOPHY..........................5

GAMMAINVESTMENTOPTIONS................................6GAMMAAUSTRALIANEQUITIESCOREPORTFOLIO................7GAMMAAUSTRALIANEQUITIESCONVICTIONPORTFOLIO.......8GAMMAINTERNATIONALPORTFOLIO.................................9GAMMALISTEDPROPERTYPORTFOLIO.............................10GAMMACONSERVATIVEINCOMEPORTFOLIO....................11GAMMAENHANCEDINCOMEPORTFOLIO..........................12GAMMACOREALTERNATIVEINVESTMENTSPORTFOLIO.......13GAMMASATELLITEALTERNATIVEINVESTMENTSPORTFOLIO.14GAMMA25/75TOTALRETURNPORTFOLIO......................15GAMMA35/65TOTALRETURNPORTFOLIO......................16GAMMA50/50TOTALRETURNPORTFOLIO......................17GAMMA70/30TOTALRETURNPORTFOLIO......................18GAMMA85/15TOTALRETURNPORTFOLIO......................19GAMMATAILOREDPORTFOLIO........................................20CASHPORTFOLIO..........................................................21

INVESTMENTRISKS..................................................22ECONOMICRISK............................................................22MARKETRISK...............................................................22INTERESTRATERISK......................................................22CURRENCYRISK............................................................22INVESTMENTMANAGERRISK..........................................22COMMODITYPRICERISK................................................22SPECIFICSECURITYRISK..................................................22CONCENTRATIONRISK...................................................22CREDITRISK.................................................................22CONVERSIONRISK.........................................................22LIQUIDITYRISK..............................................................22DEVELOPMENTRISK......................................................22DERIVATIVERISK...........................................................23TAXATIONRISK.............................................................23OTHERRISKS................................................................23

STANDARDRISKMEASURES.....................................23

FEESANDOTHERCOSTS...........................................24

OTHERCOSTS...........................................................26FUNDSMANAGEMENTFEES...........................................26BUY/SELLDIFFERENTIAL................................................26OTHERCOSTS..............................................................26

GOODSANDSERVICESTAX(GST)..............................26

CHANGESTOFEES.....................................................26

PAYMENTSTOYOURFINANCIALADVISER................27

IMPLEMENTINGANDMANAGINGYOURPORTFOLIO28INVESTMENT................................................................28INVESTINGINYOURMANAGEDACCOUNT.........................28ONGOINGMANAGEMENT..............................................28CASHHOLDINGS...........................................................28CORPORATEACTIONSANDVOTING..................................28

OPERATINGYOURMANAGEDACCOUNT..................29ADVICE.......................................................................29OPENINGANACCOUNT.................................................29MONETARYCONTRIBUTION............................................29TRANSFEROFINVESTMENTS...........................................29CONFIRMATION............................................................29ADDITIONALINVESTMENTS.............................................29REGULARINVESTMENTPLAN..........................................29INSTRUCTIONSONINVESTMENTS.....................................30TAXACCOUNTINGMETHOD...........................................30WITHDRAWALS............................................................30REGULARWITHDRAWALPLAN........................................31CHANGINGYOURACCOUNTDETAILS...............................31SWITCHING..................................................................31CLOSINGYOURMANAGEDACCOUNT...............................31INSTRUCTIONS..............................................................31GENERAL.....................................................................31ELECTRONICINSTRUCTIONS............................................31TAXATION...................................................................32NON-RESIDENTTAXATION..............................................32TAXFILENUMBERORAUSTRALIANBUSINESSNUMBER.......32REPORTING..................................................................32QUARTERLYREPORT......................................................32TAXREPORTS...............................................................32ANNUALREPORT..........................................................32



GammaManagedAccountServiceThe Gamma Managed Account Service offers you theopportunity to select from a range of professionallymanaged and administered Investment Options (orPortfolios)which you and your Financial Adviser are ableto blend to match your personal circumstances. TheseInvestmentOptionsareasfollows:

¡ GammaAustralianEquitiesCorePortfolio¡ GammaAustralianEquitiesConvictionPortfolio¡ GammaInternationalPortfolio¡ GammaListedPropertyPortfolio¡ GammaConservativeIncomePortfolio¡ GammaEnhancedIncomePortfolio¡ GammaCoreAlternativeInvestmentsPortfolio¡ GammaSatelliteAlternativeInvestments

Portfolio¡ Gamma25/75TotalReturnPortfolio¡ Gamma35/65TotalReturnPortfolio¡ Gamma50/50TotalReturnPortfolio¡ Gamma70/30TotalReturnPortfolio¡ Gamma85/15TotalReturnPortfolio¡ GammaTailoredPortfolio

You are the beneficial owner of the investments withinyourManagedAccount.

The Gamma Managed Account Service is a manageddiscretionaryaccountservice.GammaAssetManagementPty Ltd (Gamma) manages each Investment Option (orspecialist investment managers that it appoints to assistit).Theinvestmentmanagerisresponsiblefordeterminingthe specific investments for the Portfolios, the targetweighting of those investments, changes to thoseinvestmentsandresponsestothecorporateactionsarisingfromtheinvestments,basedontheinvestmentobjectivesand investment approach for the Investment Optionoutlinedinthisdocument.

TheGammaManaged Account Service provides portfolioadministration and reporting associated with theinvestments in your Managed Account. You are able toviewdetailsof the investments inyourPortfoliosandthetransactionsthatoccurinyourManagedAccountthroughtheGammawebsite.

When you open a Managed Account and select one ormore Investment Options, your Managed Account isestablished with the specific investments and targetweighting of the investments selected by Gamma orspecialistinvestmentmanagers.

In addition to the InvestmentOptions selected by you inconjunction with your Financial Adviser, you willautomaticallybeprovidedwithaCashPortfolio.

OperatorandAdministratoroftheServiceInvestmentAdministrationServicesPtyLimited(IAS)istheoperatoroftheGammaManagedAccountService.

IAS’sresponsibilitiesinclude:

¡ establishingandmaintainingyourManagedAccount;¡ appointing Gamma and any specialist investment

managers tomanage the InvestmentOptions for theGammaManagedAccountService;

¡ providingcustodialservicesincludingtheappointmentofsub-custodianstoholdinvestmentsonyourbehalf;

¡ holdingcashonyourbehalf¡ maintaining a record of investments for your

ManagedAccount;¡ providing you and your Financial Adviserwith online

reporting on the investments in your ManagedAccount;

¡ managingthecorporateactionswhichmayarisefromtheinvestmentsandcreditingthecashholdinginyourManagedAccount;

¡ recording income you have received on theinvestmentsinyourManagedAccount;

¡ arranging for payments you have authorised to bemade;

¡ calculating and deducting fees for your ManagedAccount;

¡ to receive and implement instructions you may giveundertheManagedAccountContract.

IASislicensedbytheAustralianSecuritiesandInvestmentCommissiontoprovidecustodyservicestoclients.IAShasappointed one or more sub-custodians to hold theinvestmentsinyourManagedAccountonyourbehalf.

INVESTMENTMANAGERANDINVESTMENTAPPROACH


TheInvestmentManagerGamma Asset Management Pty Ltd (Gamma) is theinvestment manager of each of the Gamma InvestmentOptions.

Gamma is a Corporate Authorised Representative ofGammaWealthGroupPtyLtd (ABN56134682330AFSL334040) (Gamma Wealth Group). Gamma may appointspecialist investment managers to assist in themanagementofeachinvestmentoption.

As investmentmanager, it is responsible for determiningthe investments in the Portfolio(s) in your ManagedAccount and selection of specialist investment managersfor the Portfolio(s) in your Managed Account. Wherespecialist investmentmanagersareappointed,theyselectthe investments inyourPortfolio, the targetweightingofthose investments, changes to those investments andresponses to the corporate actions arising from theinvestments, based on the investment objectives andinvestmentapproachoutlinedinthisdocument.

GammaInvestmentCommitteeGamma has formed an Investment Committee which isresponsible for implementing the investment philosophy,theoveralloperationandmanagementofthe InvestmentOptions in the Service and overseeing their investmentstrategyandinvestmentprocess.

The Investment Committee consists of experiencedinvestment and accounting professionals includingindependent external appointees from the financialservices industrywhohavebeenappointedfortheirskillsand expertise and experience in the finance andinvestmentmanagementindustry.

TheInvestmentCommitteemeetsregularlyto:¡ consider and review global economic and market

conditions and provide an assessment of themacroeconomicandthematicguidance for theoverallportfoliomanagementprocess,

¡ the selection and ongoing performance of anyspecialist investment managers against agreedbenchmarks,

¡ review the investment held in the Portfolio and theperformance of these investments and the Portfoliosagainstestablishedbenchmarks,

¡ monitorinvestmentperformance,ensuringcompliancewith the investment strategies of each InvestmentOption,

¡ ensurethatthePortfoliosandclientportfolioscomplywith the published investment instructions of eachInvestment Option in the Investment ManagementAgreement,

¡ monitor implementation and compliance of the riskmanagementframeworkandotherapprovedpolicies,

¡ consider and manage any conflicts of interests thatmayariseinlinewithcomplianceprocedures,

¡ theconsistentapplicationoftheinvestmentprocessinthe construction of the portfolios that make up theInvestmentOptions,

¡ periodicallyreviewtheGammainvestmentphilosophy,investmentprocessandinvestmentstrategies.

GammaInvestmentPhilosophyGamma can generally be characterised as a highconviction, benchmark unaware investment manager.Gamma believes that the asset allocation decision is themost importantdriverofportfolioperformancetodeliveritsdesiredoutcomes.

Gammawillinvestindirectinvestmentswhereverpossiblebut will usemanaged funds and Exchange Traded Funds(ETFs)whereinvestmentindirectassetsisnotviable,costeffective or where Gamma believes that a best of breedspecialist investmentmanagercanenhancetheoutcomestotheclient.When investing inmanagedfundsandETFs,Gamma will use independent external research to selectthebestinvestmentthatmeetsitsobjectives.

Gamma will select investments that align with its macroview and outlook for the global and domestic economyandmarketsandwilltakestrongthematicpositionsbasedon these views. Gamma matches the objectives andinvestment timeframe for the portfolio with the assetsheldwhenconstructingportfolioswhilstaimingtoreduceriskthroughthediversificationofassetsacrosscompanies,fund managers, industries, sectors, countries andgeographicregions.

For Gamma’s Australian equities and property exposure,the investment philosophy is based on a fundamental,bottom-upview.Gammabelievesthattheeconomicsofabusiness drives its long term share price and focuses onindustry dynamics, competitive position, managementquality,balancesheetstrengthandreasonablevaluationswhenselectinginvestmentsforinclusioninthePortfolios.

Gamma will adopt a capital preservation focus wheremarket conditions demand this approach. For directequities, downside risk mitigation is sought through acombination of portfolio diversification, position sizelimits, acting on an objective assessment that theinvestment thesis no longer applies, and rules-basedtrailing stop losses. For risk-basedmodels, Gamma seeksto achieve this through a material increase in theallocationtodefensiveassetclasses.

Gamma may also elect to appoint specialist investmentmanagers to manage a direct investment mandate.Specialist investment managers will only be used whereGamma forms the view that its in house investmentcapability cannot achieve the desired outcome. Gammawill undertake thorough due diligence on any specialistinvestmentmanageritselects.



GammaInvestmentOptionsTheGammaManagedAccountServiceincludesanumberofInvestmentOptionsforyoutoselectfrom.Thesearesummarisedbelow:

AustralianEquities GammaAustralianEquitiesCorePortfolioGammaAustralianEquitiesConvictionPortfolio

InternationalEquities GammaInternationalPortfolioProperty GammaListedPropertyPortfolioFixedInterest GammaConservativeIncomePortfolio

GammaEnhancedIncomePortfolioAlternativeInvestments GammaCoreAlternativeInvestmentsPortfolio

GammaSatelliteAlternativeInvestmentsPortfolioDiversified Gamma25/75TotalReturnPortfolio

Gamma35/65TotalReturnPortfolioGamma50/50TotalReturnPortfolioGamma70/30TotalReturnPortfolioGamma85/15TotalReturnPortfolio

Miscellaneous GammaTailoredPortfolio

YouwillautomaticallybeprovidedwithaCashPortfolio.

TheseInvestmentOptionsareoutlinedinmoredetailinthefollowingpages.



GammaAustralianEquitiesCorePortfolio

¡ PortfolioDescription-AdiversifiedportfolioofAustralianshareswithafocusonhighqualitygrowthcompaniesthatexhibitsolidcapitalandincomegrowthprospects

¡ Investment Objective - To provide investors sustainable

capital growthand income fromadiversifiedportfolioofAustralianshares

¡ Performance Objective – To outperform the average

annualrateofAustralia’sConsumerPriceIndex(CPI)byatleast5%overtheminimuminvestmenttimeframe

¡ SuggestedMinimumInvestmentTimeframe-5-7years¡ Risk–High*¡ InvestorSuitability-Investorswho:

1. Seek a concentrated portfolio of listed Australianshares,withanemphasisonbothcapitalandincomegrowth

2. Seekabovemarketaveragetaxeffectiveincomeandrelativelyhighlevelsofgrowthoninvestmentcapitalfrom exposure to Australian equities withoutexposuretoanyotherassetclasses

3. Are willing to accept high levels of short-mediumterm capital volatility and potential for loss as atrade-offforlong-termcapitalgrowth

4. Areprepared to invest for theminimum investmenttimeframe

5. Accepttheriskofpricefluctuationsparticularlyoverperiods less than the minimum investmenttimeframe and that capital preservation is notguaranteed

*RefertotheStandardRiskMeasuressectiononpage23forriskmeasurementdefinitions

¡ RangeofEachAssetClass/IndicativeAssetAllocation

AssetClass AssetClassRange

IndicativeAllocation

AustralianEquities 0-98% 95%Cash 2-100% 5%

¡ AuthorisedInvestments

Investment

AustralianSharesInitialPublicOfferings(IPOs)ExchangeTradedFunds(ETFs)ListedInvestmentCompanies(LICs)RegisteredManagedInvestmentSchemesUnregisteredManagedInvestmentSchemesCashandCashEquivalents

¡ PortfolioRiskManagement

Minimum30%oftheAustralianEquitiescomponentofthePortfoliotobeinvestedinsecuritiesintheS&P/ASX100IndexMaximum10%ofthePortfoliotobeinvestedinASXlistedsecuritiesoutsideoftheS&P/ASX300IndexMaximumexposuretoanindividualASXsecurityis15%ofthePortfolio20%maximumexposuretoaRegisteredorUnregisteredManagedInvestmentScheme,LICorETF

¡ NumberofHoldings–15-20



GammaAustralianEquitiesConvictionPortfolio

¡ PortfolioDescription-AdiversifiedportfolioofAustralianshareswithafocusoncompaniesthatarelikelytoachievecapital growth. The investment universe is typically exASX100

¡ Investment Objective - To provide capital growth and

some income over the long term from a diversifiedportfolioofAustralianshares

¡ Performance Objective - To outperform the average


¡ SuggestedMinimumInvestmentTimeframe–5-7years¡ Risk–High*¡ InvestorSuitability-Investorswho:

1. Seek a concentrated portfolio of listed Australianshares, with an emphasis on growth orientedcompanies

2. Seek relative high levels of growth on investmentcapital fromexposure toAustralianequitieswithoutexposuretoanyotherassetclasses

3. Seekamodestlevelofincome4. Arewillingtoaccept high levels of short-

mediumtermcapitalvolatilityasatradeoffforlong-termcapitalgrowth







AustralianEquities 0-98% 95%Cash 2-100% 5%


Investment

AustralianSharesInitialPublicOfferings(IPOs)ExchangeTradedFunds(ETFs)ListedInvestmentCompanies(LICs)RegisteredManagedInvestmentSchemesUnregisteredManagedInvestmentSchemesCashandCashEquivalents


MaximumexposuretoanindividualASXsecurityis15%ofthePortfolioMaximum50%oftheequitiescomponentofthePortfoliotobeinvestedinsecuritiesoutsidetheS&P/ASX300Index20%maximumexposuretoaRegisteredorUnregisteredManagedInvestmentScheme,ETForLIC

¡ NumberofHoldings-15-20



GammaInternationalPortfolio

¡ PortfolioDescription -Adiversifiedportfolioofmanagedinvestmentsthatinvestininternationalequities

¡ InvestmentObjective-ToprovidecapitalgrowthoverthemediumtolongtermbyinvestinginadiversifiedportfoliowithexposuretoInternationalETFsandmanagedfunds.

¡ Performance Objective – To outperform the averageannualrateofAustralia’sConsumerPriceIndex(CPI)byatleast5%overtheminimuminvestmenttimeframe

¡ SuggestedMinimumInvestmentTimeframe–5-7years

¡ Risk–High*

¡ InvestorSuitability-Investorswho:1. Require an exposure to a portfolio of listed

InternationalETFsandmanagedfunds2. Wish to achieve investment diversification by

accessinginternationalsharemarketopportunities3. Arenotseekinginvestmentincompaniespayinghigh

yieldingdividends4. Are comfortable with the higher levels of volatility

(loss) associated with international shares andexposuretoforeigncurrenciesandmarkets;and

5. Are able to invest for at least 3 years or preferablylonger





InternationalEquities 70-98% 95%Cash 2-30% 5%


Investment

ExchangeTradedFunds(ETFs)ListedInvestmentCompanies(LICs)RegisteredManagedInvestmentSchemesUnregisteredManagedInvestmentSchemesCashandCashEquivalents

¡ PortfolioRiskManagement30%maximumexposuretoaRegisteredorUnregisteredManagedInvestmentScheme,ETForLIC

¡ NumberofHoldings–Typically4-6



GammaListedPropertyPortfolio

¡ PortfolioDescription - A diversified portfolio of propertyinvestments via ASX listed Real Estate Investment Trusts(A-REITs)andASXlistedpropertyrelatedsecurities

¡ Investment Objective - To provide long term capital

growth and a tax-effective income stream from aninvestmentinproperty

¡ Performance Objective – To outperform the average


¡ SuggestedMinimumInvestmentTimeframe-5-7years¡ Risk–High*¡ InvestorSuitability-Investorswho:

1. Seeklongtermreturnsfromadiversifiedportfolioofpropertyrelatedinvestments

2. Seek a regular income streamandmoderate capitalgrowth from exposure to property relatedinvestments

3. Are willing to accept high levels of short-mediumterm capital volatility (loss) as a trade off for long-termcapitalgrowth

4. Understand that an investment may potentiallyexperience a high level of volatility associated withpropertyinvestmentandpotentiallyforeigncurrencyexposure







Property 50-98% 95%Cash 2-50% 5%


Investment

AustralianRealEstateInvestmentTrusts(A-REITs)andPropertyRelatedSecuritiesAustralianSharesInitialPublicOfferings(IPOs)RegisteredManagedInvestmentSchemesUnregisteredManagedInvestmentSchemesExchangeTradedFunds(ETFs)ListedInvestmentCompanies(LICs)CashandCashEquivalents


MaximumexposuretoanindividualASXsecurityis15%ofthePortfolio50%maximumexposuretoaRegisteredorUnregisteredManagedInvestmentScheme,ETForLIC

¡ NumberofHoldings-5-15



GammaConservativeIncomePortfolio

¡ Portfolio Description - A diversified portfolio of incomeproducinginvestmentstoprovidelong-terminvestorswithsustainableincome

¡ Investment Objective - To provide investors sustainableincomeinlinewithinflation.Protectionofcapitalandlowvolatilityaretheprimaryportfoliomanagementobjectives

¡ PerformanceObjective–Toat leastperform in linewiththe average annual rate of Australia’s Consumer PriceIndex(CPI)overtheminimuminvestmenttimeframe

¡ SuggestedMinimumInvestmentTimeframe-3-5years

¡ Risk-Low*

¡ InvestorSuitability-Investorswho:1. Seekanincomestreamwiththepotentialforfranking

creditsfromaninvestmentinfixedinterestsecurities2. Preferaportfoliodesignedtohavelowturnover3. Want lower volatility than investment in the share

marketprovides4. While the strategy is intended to be very low risk,

investorsshouldbecomfortablewiththepossibilityofshorter term fluctuation in returns and thepossibilitythatreturnsmaybenegative

5. Understandthatmuchoftheportfoliowillbeinvestedin income producing investments which may have atermtomaturity.Thiscouldpossiblycauseadelayonanyrequesttowithdrawfromtheportfolio

6. Understandthattheportfoliomayinvestinmanagedfundsthatmayinvestininternationalfixedincomesecuritiesandbesubjecttoforeigncurrencyexposure





FixedInterest 25-98% 95%Cash 2-75% 5%


Investment

TermDepositsBankBillsGovernmentandSemi-GovernmentBondsCorporateBondsRegisteredManagedInvestmentSchemesUnregisteredManagedInvestmentSchemesExchangeTradedFunds(ETFs)ListedInvestmentCompanies(LICs)ListedIncomeSecuritiesandPreferenceSharesHybridSecuritiesInitialPublicOfferings(IPOs)CashandCashEquivalents


Maximum40%ofthePortfoliotobeinvestedinanyoneRegisteredorUnregisteredManagedInvestmentScheme,ETF,LIC,TermDepositorBankBillMaximum10%ofthePortfoliotobeinvestedinanyoneGovernmentorSemi-GovernmentBond,ListedIncomeSecurity,PreferenceShare,HybridSecurityorCorporateBond




GammaEnhancedIncomePortfolio

¡ Portfolio Description - A diversified portfolio of incomeproducinginvestmentstoprovidelong-terminvestorswithsustainableincome.

¡ Investment Objective - To provide a level of income in

excess of prevailing cash and deposit rates over themediumto long term through investment inadiversifiedportfolioofincomeproducinginvestments


annualrateofAustralia’sConsumerPriceIndex(CPI)byatleast2.5%overtheminimuminvestmenttimeframe

¡ SuggestedMinimumInvestmentTimeframe-5to7years¡ Risk–LowtoMedium*¡ InvestorSuitability-Investorswho:

1. Seek an income stream with the potential forfranking credits from an investment in a mix ofequitiesandfixedinterestsecurities

2. Preferaportfoliodesignedtohavelowturnover3. Want lowervolatility than investment in theshare

marketprovides4. Are comfortable with shorter term fluctuation in

returns and the possibility that returns may benegative

5. Understand that some of the portfolio will beinvested in income producing investments whichmay have a term to maturity. This could possiblycauseadelayonanyrequesttowithdrawfromtheportfolio

6. Understand that the portfolio may invest inmanaged funds that may invest in internationalfixed income securities and be subject to foreigncurrencyexposure





AustralianEquities 0-50% 35%FixedInterest 25-75% 50%Cash 2-75% 15%


Investment

AustralianSharesTermDepositsBankBillsGovernmentandSemi-GovernmentBondsCorporateBondsRegisteredManagedInvestmentSchemesUnregisteredManagedInvestmentSchemesExchangeTradedFunds(ETFs)ListedInvestmentCompanies(LICs)ListedIncomeSecuritiesandPreferenceSharesHybridSecuritiesInitialPublicOfferings(IPOs)CashandCashEquivalents


Maximum40%ofthePortfoliotobeinvestedinanyoneRegisteredorUnregisteredManagedInvestmentScheme,ETF,LIC,TermDepositorBankBillMaximum10%ofthePortfoliotobeinvestedinanyoneGovernmentorSemi-GovernmentBond,ASXSecurity,ListedIncomeSecurity,PreferenceShare,HybridSecurityorCorporateBond

¡ NumberofHoldings-Typically15-25



GammaCoreAlternativeInvestmentsPortfolio

¡ PortfolioDescription -Adiversifiedportfolioofmanagedinvestments that invest in alternative investmentstrategies

¡ Investment Objective – To generate positive (absolute)returns through exposure to alternative growth anddefensiveassetsthathavealowcorrelationtoequityandbondmarkets


¡ SuggestedMinimumInvestmentTimeframe-5years

¡ Risk–Medium*

¡ InvestorSuitability-Investorswho:1. Require an exposure to a diversified portfolio of

alternative growth anddefensive assets that have alowcorrelationtoequityandbondmarkets

2. Seek an enhanced level of income return whileaccepting short termprice volatility (loss) in returnsandcapitalvalue

3. Are comfortable with higher investment risk thanthatoftraditionaldefensiveassetclasses;and






AlternativeInvestments 50-98% 95%Cash 2-50% 5%


Investment

ExchangeTradedFunds(ETFs)ListedInvestmentCompanies(LICs)RegisteredManagedInvestmentSchemesUnregisteredManagedInvestmentSchemesCashandCashEquivalents


Maximum40%ofthePortfoliotobeinvestedinanyoneRegisteredorUnregisteredManagedInvestmentScheme,ETForLIC




GammaSatelliteAlternativeInvestmentsPortfolio

¡ Portfolio Description - A portfolio of managedinvestmentsthat invest inunlistedalternative investmentstrategies. The portfolio may be highly concentrated bythe number of underlying investments and someinvestments may have restricted liquidity and have ahigherriskthanthoseintheCoreAlternativeInvestmentsPortfolio

¡ Investment Objective – To generate positive (absolute)returns through exposure to alternative growth anddefensiveassetsthathavealowcorrelationtoequityandbondmarkets


¡ SuggestedMinimumInvestmentTimeframe-5years

¡ Risk–High*

¡ InvestorSuitability-Investorswho:1. Require an exposure to a diversified portfolio of

alternative growthanddefensiveassets thathavealowcorrelationtoequityandbondmarkets

2. Seek an enhanced level of income return whileaccepting short termprice volatility (loss) in returnsandcapitalvalue

3. Are comfortable with higher investment risk thanthatoftraditionaldefensiveassetclasses;and






AlternativeInvestments 50-98% 95%Cash 2-50% 5%


Investment

RegisteredManagedInvestmentSchemesUnregisteredManagedInvestmentSchemesCashandCashEquivalents


Maximum50%ofthePortfoliotobeinvestedinanyoneRegisteredorUnregisteredManagedInvestmentScheme




Gamma25/75TotalReturnPortfolio

¡ PortfolioDescription-Adiversifiedportfolioofsecuritiesacross both defensive assets such as cash and fixedinterest securities, and growth assets such as Australianequities, property and international equities with anemphasis on holding defensive assets. The mix ofdefensiveandgrowthassetsand theallocationbetweendefensiveandgrowthassetswillvaryaccordingtomarketconditions

¡ InvestmentObjective-Toprovideincomewithalowriskofcapitallossovertheshorttomediumterm,withsomecapitalgrowthoverthe long-termthroughexposuretoadiversified portfolio of investments over the investmenttimeframe


annualrateofAustralia’sConsumerPriceIndex(CPI)byatleast1%overtheminimuminvestmenttimeframe.

¡ SuggestedMinimumInvestmentTimeframe-3years¡ Risk-LowtoMedium*¡ InvestorSuitability-Investorswho:

1. Seek relatively stable, regular income from lowvolatility assets, but with some exposure to thesharemarketwheremarketconditionswarrant.

2. Are focussed on capital preservation and areprepared to forego the potential of higher returnsforlowervolatilityandthepreservationofcapital.

3. Arepreparedtoinvestfortheminimuminvestmenttimeframe.

4. Accepttheriskofpricefluctuationsparticularlyoverperiods less than the minimum investmenttimeframe and that capital preservation is notguaranteed.

5. Understand that withdrawals from this Portfoliomaybedelayeddue to the fixed termsofmaturityfor some fixed interest investments and managedfunds.

6. Understand that in some circumstances theunderlyingassetsmayfallinvalueduetochangesinprevailinginterestrates.

7. Understand that the portfolio may invest inmanagedfundsthatmayinvestininternationalfixedincomesecuritiesandbesubjecttoforeigncurrencyexposure.





AustralianEquities 0-20% 15%Property 0-15% 5%InternationalEquities 0-15% 5%FixedInterest 25-65% 40%AlternativeInvestments 0-15% 5%Cash 25-45% 30%


Investment MaximumExposure*

TermDeposits 25%BankBills 25%GovernmentandSemi-GovernmentBonds

15%

CorporateBonds 5%ExchangeTradedFunds(ETFs)

15%

ListedInvestmentCompanies(LICs)

15%

RegisteredManagedInvestmentSchemes

15%

UnregisteredManagedInvestmentSchemes

15%

AustralianRealEstateInvestmentTrusts(A-REITs)andPropertyRelatedSecurities

5%

ListedIncomeSecurities 5%HybridSecurities 5%AustralianShares 5%InitialPublicOfferings(IPOs)

5%

CashandCashEquivalents

45%

*Maximumexposure(expressedasapercentageofTotalPortfolioValue)toanindividualsecurity





¡ PortfolioDescription-Adiversifiedportfolioofsecuritiesacross both defensive assets, such as cash and fixedinterest securities, and growth assets such as Australianequities, property and international equities.Themix ofdefensiveandgrowthassetsand theallocationbetweendefensiveandgrowthassetswillvaryaccordingtomarketconditions

¡ InvestmentObjective - Toprovide relatively stable total

returns over the short to medium term from acombination of income and capital growth, throughexposure to a diversified portfolio of investments overtheinvestmenttimeframe



¡ SuggestedMinimumInvestmentTimeframe-4years¡ Risk-LowtoMedium*¡ InvestorSuitability-Investorswho:

1. Seek relatively stable, regular income from lowvolatility assets, but with exposure to the sharemarketwheremarketconditionswarrant

2. Are seeking relatively stable returns over theinvestment timeframe with a moderate level ofincome

3. Are prepared to invest for the minimuminvestmenttimeframe

4. Accept the risk of price fluctuations particularlyover periods less than the minimum investmenttimeframe and that capital preservation is notguaranteed

5. Understand that withdrawals from this Portfoliomay be delayed due to the fixed terms ofmaturity forsomefixed interest investmentsandmanagedfunds

6. Understand that in some circumstances theunderlyingassetsmayfallinvalueduetochangesinprevailinginterestrates

7. Understand that the portfolio may invest inmanaged funds that may invest in internationalfixed incomesecuritiesandbe subject to foreigncurrencyexposure









15%


15%


15%


15%


15%


5%


5%


25%






¡ Portfolio Description - A diversified portfolio ofsecuritiesacrossbothdefensiveassetssuchascashandfixed interest securities and growth assets such asAustralian equities, property and international equitieswith an emphasis on growth assets over defensiveassets.Themixofdefensiveandgrowthassetsandtheallocation between defensive and growth assets willvaryaccordingtomarketconditions

¡ Investment Objective - To provide moderate to high

totalreturnsoverthemediumtermfromacombinationof income and capital growth through exposure to adiversifiedportfolioofinvestmentsovertheinvestmenttimeframe



¡ SuggestedMinimumInvestmentTimeframe-5years¡ Risk-Medium*¡ InvestorSuitability-Investorswho:

1. Require a balanced portfolio through a diversifiedmixacrossthemajorassetclasses.

2. Are seeking moderate to high growth over theinvestment timeframe with a moderate level ofincome.

3. Accept a medium to high level of volatilityassociatedwithanexposuretogrowthassets.



6. Understand that withdrawals from this Portfoliomaybedelayeddue to the fixed termsofmaturityfor some fixed interest investments such as termdeposits.

7. Understand that in some circumstances, somedefensiveassetsmayfall invalueduetochangesinprevailinginterestrates.










15%


15%


15%


15%


15%


5%


8%


25%






¡ PortfolioDescription-Adiversifiedportfolioofsecuritiesacross both defensive assets such as cash and fixedinterest securities and growth assets such as Australianequities, property and international equities with theemphasis on growth assets. The mix of defensive andgrowthassetsand theallocationbetweendefensiveandgrowthassetswillvaryaccordingtomarketconditions.

¡ InvestmentObjective-Toprovidehightotalreturnsover

the investment timeframe through exposure to adiversifiedportfolioof investmentswithanemphasisongrowthassets.



¡ SuggestedMinimumInvestmentTimeframe-6years¡ Risk–MediumtoHigh*¡ InvestorSuitability-Investorswho:

1. Seekarelativelyhighlevelofgrowthoninvestmentby investing in a diversified mix across the majorassetclasses.

2. Arewillingtoacceptahighlevelofshorttomediumterm capital volatility as a trade-off for long-termcapitalgrowth.














10%


15%


15%


15%


15%


5%


5%


25%






¡ PortfolioDescription-Adiversifiedportfolioofsecuritiesacross growthassets suchasAustralian shares, propertyand international securities. Defensive assets may beusedwheremarketconditionswarrant.

¡ Investment Objective - To provide higher total returns

than a Growth Portfolio over the investment timeframethrough exposure to a diversified portfolio of growthassets.



¡ SuggestedMinimumInvestmentTimeframe-7years¡ Risk–High*¡ InvestorSuitability-Investorswho:

1. Seek a relatively high level of growth on theirinvestmentcapitalthroughaninvestmentingrowthassets.

2. Arewillingtoacceptahighlevelofshorttomediumterm capital volatility as a trade-off for long-termcapitalgrowth.














10%


15%


15%


15%


15%


5%


5%


25%





GammaTailoredPortfolio

¡ Portfolio Description -A portfolio in which investmentsare held on the basis of specific client requirements,determinedinconsultationwithyourAdviser.

¡ InvestmentObjective-Toprovideacustomisedportfolio

that meets a client’s specific needs, not otherwiseachievedthroughotherGammaPortfolios.

¡ Performance Objective - To be determined with each

clientonestablishmentofthePortfolio.¡ InvestorSuitability-Investorswho:

1. Require a specific investment strategy designed byyour adviser to suit your specific needs andobjectives.

2. Are comfortable with high levels of volatilitypotentiallyassociatedwithsomeinvestmentsinthePortfolio.

3. Understand that the investments may not beactivelymanaged.

4. Understandthedifferentrisksthatmayapplytoanindividual assetheldandbewilling toaccept thoserisks.

RangeofEachAssetClass/IndicativeAssetAllocation

AssetClassAssetClassRange


AustralianEquities 0-100% AsAgreedProperty 0-100% AsAgreedInternationalEquities 0-100% AsAgreedFixedInterest 0-100% AsagreedAlternativeInvestments 0-100% AsAgreedCash 0-100% AsAgreed




Asagreedwithclients


Asagreedwithclients

ExchangeTradedFunds(ETFs)

Asagreedwithclients

A-REITsandPropertyRelatedSecurities

Asagreedwithclients

AustralianShares AsagreedwithclientsListedInvestmentCompanies(LICs) Asagreedwithclients

ListedIncomeSecurities AsagreedwithclientsCashandCashEquivalents

Asagreedwithclients

*Maximumexposure(expressedasapercentageofTotalPortfolioValue)toanindividualsecurityThese percentages reflect the possible range of asset classes availablethrough the Gamma Tailored Portfolio. They do not reflect the actualparameters of a Tailored Portfolio for a specific client. The assetparametersforyourTailoredPortfoliowillbesetbyyourFinancialAdviseranddisclosedintheStatementofAdviceprovidedtoyoubyyourFinancialAdviser.

¡ NumberofHoldings-N/A



CashPortfolioWhen you invest through the Gamma Managed AccountService,aCashPortfolioisautomaticallyopenedforyou.

TheCashPortfoliocanbeusedforseveralpurposes:

1. AmountsyouinvestinyourManagedAccountmaybeinitially invested in the Cash Portfolio and theninvested in the Investments Options you haveselected.

2. TheCashPortfolio isused forprocessingapplicationsand withdrawals, cash receipts and cash payments,suchasinterbanktransfersorBPAY®payments.

3. TheCashPortfoliocanalsobeusedtoholdcashthatyoudonotwishtobe invested inanyof theGammaInvestmentOptions.Aninstructionabouttheamountof cash to be held should be included on yourApplicationFormorforwardedseparatelyinwriting.



InvestmentRisksAll investing involves some degree of risk. This sectionprovides a summary of the major risks that you should beawareofwheninvestingthroughthisService.

It is important for you to obtain personal advice about thesuitability of the Gamma Managed Account ServiceInvestmentOptionsbeforemakingyourdecisiontoinvest.

The risks to which yourManaged Account may be subject,butarenotlimitedto,include:

EconomicRiskAdownturn in the general economic conditions inAustraliaor globally may adversely affect the performance of aportfolioofinvestmentsorparticularinvestments.

MarketRiskMarket risk is the risk associated with being exposed to aparticular investment market such as the Australian sharemarketorincomesecuritiesmarket.Currentandanticipatedeconomicconditions,politicalevents,generalmovements inthe Australian and international stock markets, investorsentiment, interest rates and exchange rates are all factorsthat may influence (positively or negatively) the value ofsecuritiesandtheirinvestmentreturns.

InterestRateRiskChanges in Australian and international interest rates mayaffectthevalueofinterestbearingsecurities,sharesinsomecompanies and markets as a whole. Rises in interest ratesmayleadtolossincapitalvalueandfallsininterestratesmayleadtorisesinvalue.

CurrencyRiskCurrency risk is the risk inherent in investments made incurrencies other than the Australian dollar. Movements inthe Australian dollar exchange rate may have a positive ornegativeeffectonthevalueofforeigncurrencyinvestments.

InvestmentManagerRiskTheinvestmentmanagerandspecialistinvestmentmanagersmay not anticipate market movements or execute theinvestment strategy effectively. The investment managermaynotachievetheobjectiveofanInvestmentOption,otherrisksnotwithstanding.Changesinkeystaffoftheinvestmentmanagerand specialist investmentmanagersmayalsohaveanimpactonperformanceofanInvestmentOption.

CommodityPriceRiskYourManaged Accountmay hold investments, the price ofwhich is significantly determined by the price of variouscommodities. Commodity prices can fluctuate significantlyover short periods of time. Falls in commodity prices mayleadtolossinvalueofaninvestment.

SpecificSecurityRiskThis is the risk associatedwith the specific investment. Forinstancethevalueofanindividualcompany’sshares,interestbearing and hybrid securities may change as a result offactorssuchaschangesinmanagement,marketsentimentorindustryspecificevents.

ConcentrationRiskIf a portfolio of investments is concentrated in a smallnumber of investments or a sector, a fall or rise in oneinvestment or sector may have a significant effect on thetotalvalueoftheportfolio.

DiversificationisusedtoreducetheimpactthatthevolatilityofoneinvestmentorsectormayhaveontheperformanceofyourManagedAccount.

CreditRiskCredit risk is the risk that the issuer of the debt security isunable to satisfy itsobligationunder the termsattaching tothesecurity.Theseobligationsincludepaymentofinterestoradividendorpaymentortherepaymentonmaturity.

A decline in credit quality of the issuer of a security couldresultinacapitallossbeingincurredonthosesecurities.

ConversionRiskHybrid or other convertible securities that convert intoordinary shares may not be readily convertible into anequivalentvalueofcash.

LiquidityRisk Liquidity risk is the risk of holding an investment which istradedonan infrequentbasis,or is restrictedor suspendedfromtrading.ShouldyourManagedAccountholdlessliquidinvestments,itmaybedifficulttodisposeoftheinvestmentsatafairprice,atparticulartimes.

Listed property related securities andA-REITsmay invest indirect property. Investment in property can be illiquid as itcantakeconsiderabletimetosellproperty.Thiscanattimescause a material decrease in property values and have asignificanteffectonthevalueofaninvestment.

DevelopmentRiskIn certain circumstances property investment may includeexposure to a limited amount of development risk, such asongoing development of properties or via investments inintermediate property vehicles that undertake propertydevelopment activities. Development is subject to thepossibilityof increases in constructioncosts, costover runs,and delays in completion which affect the value of aninvestment.



DerivativeRiskA derivative is a financial contract whose value is derivedfrom an underlying security, asset, liability or index.Derivatives include futures, options and swaps. Derivativesmaybeused toprotect an investment frombeingunderorover invested and to increase exposure. The use ofderivatives could accentuate or moderate the effect ofmarket movements on an investment in your ManagedAccount. Gamma FS does not directly use derivatives butsomespecialistfundswithintheportfoliomaydoso.

TaxationRiskGovernment legislation or ATO action (including publicrulings) may alter the tax treatment of your investment,which may impact the expected tax payable on or returnfromyourinvestmentactivities.

OtherRisks! ThirdPartyRisk

TheServiceuses informationand servicesprovidedby thirdparties such as sub-custodians and other service providers.Procedures are in place to address risks associated withoutsourcing, such as having comprehensive serviceagreementswith the service providers. If a service provideradvises of an error, it is corrected and if material, it willgenerally be communicated to you and/or your FinancialAdviser.

! SystemsandTechnologyRisk

The Service relies on the integrity and reliability of theportfoliotradingandadministrationsystemsusedtomanageyour Managed Account. To minimise potential risks,established systems operated by experienced systemprovidersareused.Thesystemprovidersmusthaveback-uparrangementsandBusinessContinuityPlans.

In the event that the systems fail there may be delays inprocessing transactions or in accessing your investmentcapital and investment returns may differ from those thatwouldhavebeenachieved.

StandardRiskMeasuresThe Standard Risk Measure, jointly developed by theFinancial Services Council (FSC) and the Association ofSuperannuation Funds of Australia (ASFA), which aims “toprovide members with a descriptor to assist in comparinginvestment options (bothwithin and across superannuationfunds) utilising a simplified risk measure”. In this instance,risk is defined simply as the estimated number of negativeannualreturnsoverany20yearperiod.

RiskBand

RiskLabel Est. Number ofNegative AnnualReturns over any 20yearperiod

1 VeryLow Lessthan0.5

2 Low 0.5tolessthan1

3 LowtoMedium 1tolessthan2

4 Medium 2tolessthan3

5 MediumtoHigh 3tolessthan4

6 High 4tolessthan6

7 VeryHigh 6orGreater



FeesandOtherCostsThissectionshowsthefeesandothercostschargedbyIASfortheGammaManagedAccountService.ItincludesallfeespaidtoGamma(andanyspecialistinvestmentmanagerappointedtoassistit)fortheirinvestmentmanagementservices.

DetailsoftheInvestmentOptionsthatyouhaveselected,theactualfeesthatyouwillbechargedbyIASandtheamountsthatIASwillonpaytoGammafortheinvestmentmanagementservicesprovidedwillbeshowninyourApplicationFormfortheService.UnlessotherwisestatedinyourApplicationForm,allfeeswillbedeductedfromthecashholdingsinyourInvestmentOption/sandareinclusiveofGSTandanyReducedInputTaxCredit(RITC)whereapplicable.

You should read all of the information about fees because it is important to understand their impact on your ManagedAccount.

TypeofFee AmountofFee HowandWhenYouPaytheFee

PortfolioManagementFeeThisfeeischargedforadministration,custodialandinvestmentmanagementservicesprovidedbytheService

ForManagedAccountbalancesabove$2.5m,thePortfolioManagementFeeforthevalueexceeding$2.5mwillbereducedby0.21%

Portfolio Fee

GammaAustralianEquitiesCore 1.0500%

GammaAustralianEquitiesConviction

1.0500%

GammaInternational 0.7875%

GammaListedProperty 0.7875%

GammaConservativeIncome 0.4725%

GammaEnhancedIncome 0.7875%

GammaCoreAlternativeInvestments

0.7875%

GammaSatelliteAlternativeInvestments

0.7875%


0.6825%


0.7875%


0.9975%


1.0500%


1.0500%

GammaTailoredPortfolio Upto1.5750%

ThefeeispaidmonthlyinarrearsandiscalculatedontheaveragedailyvalueofyourManagedAccountduringthemonth



PortfolioManagementPerformanceFeeForsomeInvestmentOptions,anadditionalfeeischargediftheperformanceofyourPortfolioexceedstheperformanceofthespecifiedPerformanceObjectiveforthePortfolio(seepages7-20

InvestmentOption %p.a.ofoutperformance

benchmark

AustralianEquitiesCore;GammaAustralianEquitiesConviction

21.00%

AllOtherPortfolios(exceptGammaTailoredPortfolioandCashPortfolio)

15.75%

IfaPerformanceFeeispayable,itispaidaftertheendofeachquarter

TransactionChargesATransactionFeeandBrokerage(whereapplicable)arechargedwhenasecurityorinvestmentinyourManagedAccountisboughtorsold.Brokerageischargedbythebrokerwhoarrangesthepurchaseorsale

TransactionFeeTailoredPortfolio$21.00foreachpurchaseorsaleAllotherPortfolios(otherthantheCashPortfolio)$12.60foreachpurchaseorsalePlusBrokerageUp to 0.105%of the valueof the trade subject to aminimumbrokerageamount

These fees are paid at the time ofthe trade. They are added to thecost of a purchase or deductedfromtheproceedsofasale

InspecieTransferFeeThisfeeischargedwhenasecurityorinvestmentistransferredinoroutofyourManagedAccount

TransferIn

Listedsecurities $5.25

Managedfunds $10.50

Fixedinterestinvestments $13.13

TransferOut

Listedsecurities $31.50

Managedfunds $31.50

Fixedinterestinvestments $31.50

Thefee ispaidforeachsecurityorinvestmentandforeachtransferatthetimeofthetransfer

InitialPublicOffering(IPO)andPlacementFeesGammamayalsoreceiveafeewhenyourfundsareinvestedinInitialPublicOfferings(IPOs)orplacementsbythebrokerwhoarrangesforthemtosubscribetotheIPOorplacement.TheamountofthefeeisdeterminedbythebrokerandwillvaryforeachIPOorplacement.Thereisnoadditionalcosttoyou.

PortfolioManagementPerformanceFeeDisclosureForallportfoliosexcepttheGammaTailoredPortfolioandCashPortfolio,aPortfolioManagementPerformanceFeemaybecharged,asspecifiedinthetableabove.

APortfolioManagementPerformanceFeeispayablewhenyourportfoliooutperformstheperformancefeebenchmarkforthePortfolio,afterthedeductionofPortfolioManagementFees,TransactionChargesandanyPortfolioManagementPerformanceFeespreviouslypaid.IndeterminingwhetheraPortfolioManagementPerformanceFeeispayable,ahighwatermarkapproachisadopted.Ahighwatermarkapproachrequiresthatwheretheperformanceofyourportfolio,afterthedeductionoffees,islessthanthebenchmarkperformanceforaperiod,thisunderperformancemustberecoupedbeforeaPortfolioManagementPerformanceFeeispayableinthefuture.

PortfolioManagementPerformanceFeesaredeductedonaquarterlybasis,shouldtheybepayable.

BenchmarksforthePortfolio’ssubjecttoperformancefeesaredisclosedintheInvestmentOptionsdisclosureonpages7to20ofthisdocument.



OtherCostsFundsManagementFeesIfan InvestmentOption invests inExchangeTradedFunds,Listed InvestmentCompaniesorManaged InvestmentSchemes,the investmentmanagers of these productswill charge a fundsmanagement fee on of the value of your investment (formanaged funds, this will be based on the Indirect Cost Ratio). Additional performance fees may be charged if the fundmanageroutperformsaspecifiedbenchmarkfortheproduct.Thesefeesarepaidfromwithinthefundbeforethevalueofyourinvestmentiscalculated.AskyourFinancialAdviserifyourequiremoreinformationaboutthesefees.

Buy/SellDifferentialIfanInvestmentOptioninvestsinManagedInvestmentSchemes,abuy/selldifferentialfeemaybechargedbytheinvestmentmanager.Thisisthedifferenceinthebuyandsellpriceofunitsinthefundandisbasedontheinvestmentmanager’sestimateofthetransactioncostsincurredwhenaninvestorbuysorsellsunitsinthefund.

OtherCostsAll government and other fees and costs (including bank fees, stamp duty, cheque dishonours, ASX fail fees and penaltyinterest)incurredasaresultofacontributionorwithdrawalwillbechargedtoyou.ThefeeorcostwillbedeductedfromthecashholdingofyourManagedAccount.

GoodsandServicesTax(GST)GoodsandServicesTax(GST)appliestothefeesandcostschargedtotheManagedAccountService.AnyReducedInputTaxCredit(RITC)availableinrespecttoGSTonfeesandcostswillbeclaimed.AnyRITCreceived,lessanycostsincurredinclaimingtheRITC,willbepassedontoyou.

AlltheabovefeesareinclusiveofGSTandthebenefitfromtheRITC,whereapplicable.

ThenetGSTposition(GSTincurredlessthebenefitofanyRITCyoureceive)isusedwhendeterminingthevalueofinvestmentsfortaxationpurposes.

IntheeventofanychangeintaxlawsortheirinterpretationwhichaffectseitherGSTortheRITC,thefeesandcostsapplicabletoyourManagedAccountmaybevariedoradjustedtoreflectsuchchangeswithoutyourconsent.Whilewewillendeavourtonotifyyou,wearenotrequiredtoprovideyouwithnoticeofanychange.

ChangestoFeesFeesmaybeamendedfromtimetotimeduetochangesinsuchmattersasregulation,marketconditions,marketchargesandprocedures.Wewillgiveyouatleast20businessdays’noticeofthechange.



PaymentstoyourFinancialAdviserYou may direct IAS to pay any fees you have agreed to pay your Financial Adviser from the cash held in your ManagedAccount.YoucandothisintheApplicationFormorinwriting.ThetablebelowdescribesthetypesoffeesyoucandirectIAStopay:

TypeofFee Amount HowandWhenPaidToYourFinancialAdviser

InitialFinancialAdviserFee

TheamountchargedbyyourFinancialAdviserwhenyouinitiallyinvestfundsinyourManagedAccount

AdollaramountasagreedwithyourFinancialAdviser. Thefeeispaidatthetimeoftheinvestment

FinancialAdviserServiceFeeTheamountchargedbyyourFinancialAdviserfortheirongoingservices

AdollaramountorapercentageofyourinvestmentsasagreedwithyourFinancialAdviser.

Thisfeeispaidmonthlyinarrears.WhereaFeebasedonthepercentageofyourinvestmentsisagreed,thisiscalculatedbasedontheaveragedailyvalueofyourManagedAccount.



ImplementingandManagingYourPortfolioInvestmentOnce your Application Form has been accepted and yourManagedAccountestablishedbyIAS,yourclearedfundsareinvested by the investment manager using a targetinvestment and target weighting approach, consistent withthe objectives of the Investment Option(s) you havenominated.

Generally, your initial investment amount and anysubsequent contribution, is investedwithin twentybusinessdays, although considerations such as market conditions,availability and liquidity of securities and investments,upcoming new issues and economic parcel sizesmay affectthis timeframe. Where suitable investments are notavailable,yourinitialinvestmentamountmaybeallocatedtoCash until suitable investments become available. Wheresuitable investments are not available for a period, anallocation to Cash may be greater than the MaximumExposureforCashdisclosedfortheInvestmentOption.

The investment manager is responsible for executing thetransactions to invest your Portfolio(s), using brokersapprovedbyIASforanylistedsecurities.

In managing your Portfolio, small uneconomic transactionswillbeavoided.Generallya$300minimumtransactionvaluewillapply forasingle investmentalthoughtheminimum,asdetermined by the investment manager, may be higher.Purchases and sales of securities may be aggregated withthose of other portfolios. Any costs associated with thepurchaseandsaleofsecuritieswillbeapportionedbetweenallrelevantportfolios.

The composition of your Portfolio managed under aparticular Investment Option is compared to targetinvestmentsandtargetweightingsfortheseinvestmentsforthatInvestmentOptiononaregularbasis.Theweightingsofthe investments in an individual portfolio will be managedwithanallowanceforthevalueoftheholdingtodifferfromtargetweightings.

VariationscanalsooccurinthecompositionofyourPortfolioand other portfolios because of practical issues associatedwith investing.Factorssuchasavailabilityofsecurities,youradditional investments, withdrawals and the payment ofdividends and interest will affect the cash holding and thecompositionofyourPortfolio.

The variations in the composition of your Portfolio(s) maydiffer tootherclientportfolios.Thismayresult invariationsintheperformancebetweenyourPortfolioandtheportfoliosofothersinvestingunderthesameInvestmentOption.

InvestinginYourManagedAccountYou can open or add to your Managed Account bycontributing cash or securities and should nominate on theApplicationFormhowyouwillbemakingyourinvestment.

IfyoutransferinsecuritiestoopenoraddtoyourManagedAccount, decisions relating to those securities will be the

responsibilityof the investmentmanager from the time thesecurities are registered in the name of the sub-custodianand transferred into yourManaged Account. The securitieswill then be held and managed under the terms of theManagedAccountContract.

OngoingManagementWhen you nominate an Investment Option, you areinstructing IAS to ensure that your Portfolio is invested inaccordance with the investment managers’ investmentrecommendations. You authorise IAS and the investmentmanagers to make investment decisions within theinvestmentparametersof theparticular InvestmentOption.This includes buying and selling securities and otherinvestmentsandrespondingtocorporateactionselections.

In the event that the Investment Management AgreementbetweenIASandGammaisterminated,yourinstructionswillbesought.

Should you wish to avoid investments in a particularcompanyorindustryyoumayprovidewrittennoticeofyourpreference.

CashHoldingsEachPortfoliohasacashholding.Incomereceivedonsharesandsecuritiesheld inyourPortfoliowillbecreditedtoyourcashholding of that Portfolio.Generally, fees and expensesarepaidfromthePortfoliotowhichtheyrelate.

Atthediscretionoftheinvestmentmanager,theincomemaybe used to add to existing investments, invested in a newsecurityorinvestment,orheldincash.

Generally, portfoliosmust have aminimum cash holding of2%ofthetotalvalueofyourPortfolio,or$1,000,whicheveris the greater. Some Investment Options may have higherminimum cash holdings, where this is the case, it will bedisclosedinthisInvestmentOptionsDocument.

Should the cashholdingof anyof yourPortfolios fall belowthe required minimum balance, the holdings of thosePortfoliosmayberebalanced.Saleofinvestmentsmayresultin the realisation of capital gains, which may result intransactioncostsandhavetaxconsequences.

ACashPortfoliowillalsobeautomaticallyopenedforyou.

CashholdingsineachofyourPortfoliosandanycashheldintheCashPortfolioaredepositedwithAustraliaandNewZealandBankingGroupLimitedABN11005357522(“ANZ”).IASwillnotwithdrawyourmoneyexceptwhereinstructedbyyouinaccordancewiththetermsandconditionsintheManagedAccountContract.

Interest on your cash holding is calculated and accrued onthe end of day balance and paid monthly at the ratedeterminedbyIASasnotifiedtoyourFinancialAdviserfromtimetotime.

CorporateActionsandVotingThe investment managers are responsible for makingdecisionsonanycorporateactionsarising from investmentsbeneficiallyheldbyyouinyourPortfolio(s),andfordirection



of voting at shareholder meetings, under the terms of theagreementwithIAS.Corporateactionsinclude:

¡ participationinsharebuy-backsortakeoveroffers;¡ rightsissues,and¡ options.

Gamma, IAS, sub-custodians and any specialist investmentmanagers may receive reports, confirmations and otherinformation relating to the investments of the Portfolios inyourManaged Account from companies, brokers and otherparties. A copy of these reports, confirmations and otherinformationwillnotbeprovidedtoyou.

OperatingYourManagedAccountAdviceToinvestthroughthisManagedAccountServiceyouneedtoconsultwithaFinancialAdviserandreceivepersonalfinancialadvice. Youmust receive a Statement of Advice from yourFinancial Adviser that advises you that aManaged Accountand the InvestmentOption(s) you have chosen are suitableforyourcircumstances.

If you are a ‘wholesale investor’ as defined by theCorporations Act, you do not require personal financialadvice.

Beforeyoudecidetoinvestyoushouldreceiveandreadthefollowing:

¡ thisInvestmentOptionDocument¡ IAS’FinancialServicesGuide¡ theManagedAccountContract,and¡ theApplicationForm.

OpeninganAccountTo open a Managed Account, your Financial Adviser mustprovideyouwithanApplicationForm.Youcanselectoneora combination of Investment Options under which yourinvestmentswillbemanaged.

You can invest cash and/or transfer an existing portfolio ofinvestments such as shares or other listed securities, intoyourManagedAccount.

NotallsecuritiescanbetransferredintoaManagedAccount.YourFinancialAdviserwill adviseyou ifanyofyourexistinginvestmentscannotbetransferred.

Nominimumapplies to initial investments inyourManagedAccount.

MonetaryContributionAn investment can be made by bank deposit, electronictransfer,directdebit,chequeorBPAY®.

Your Financial Adviser will provide you with the necessaryinformation to ensure your monetary contribution isdepositedtothecorrectaccount.

TransferofInvestmentsListedsecuritiesandotherinvestmentsthatyouowncanbetransferredtoyourManagedAccount.Todosoyouwillneedtocompletetheappropriateform.Thisiseither:

! aBrokerSponsoredHoldingsReleaseFormfor securitiesheldinCHESSthataresponsoredbyaBroker,or

! aStandardTransferForm for IssuerSponsoredHoldings.These are securities sponsored/controlled by the shareregistryusedbythecompany,

! aStandardTransferFormformanagedfunds,or! a letterofauthoritydirecting theexistingcustodian that

holds themanaged funds or other investments on yourbehalftotransfertheunitstoyourManagedAccount.

Your Financial Adviser is able to assist youwith completingthenecessarydocumentation.

YoucanonlytransferinvestmentstoyourManagedAccountthatarebeneficiallyownedbytheapplicantfortheManagedAccountandareinthenameontheApplicationFormfortheManagedAccount.

Acapitalgainstaxcostbaseneedstoberecordedforeachofthe investments transferred to yourManagedAccount. Youshould carefully check the details you are providing as IASaccepts the details you provide and accepts no liability fortheinformationprovided.

ConfirmationA letter confirming that yourapplicationhasbeenacceptedwill be sent to you. It will contain details of yourManagedAccount and a User name, which will allow you to accessinformation on your Managed Account fromhttps://gamma.managedaccounts.com.au

Auniquepasswordwillbesenttoyouinaseparateletter.

If we are unable to process your application because it isincomplete or incorrectly completedwewill contact you oryourFinancialAdviserandifnecessaryreturntheapplication.

AdditionalInvestmentsYou can make additional investments into your ManagedAccountatanytime.NominimumappliesiftheinvestmentisintoanexistingInvestmentOption.

Additional investments can be made by bank deposit,electronic transfer, direct debit, cheque, BPAY® or via thetransferofsharesorotherlistedsecuritiesyouown.

Tomakeanadditionalinvestmentplease:

¡ provideawrittenrequest,whichstates:o yournameo yourManagedAccountNumbero amountofyourinvestment,ando the Investment Option(s) into which it is to be

invested¡ providetheappropriatesecuritytransferform,ifyouare

transferring shares or other securities to yourManagedAccount.

Your Financial Adviser will provide you with the necessaryinformation to ensure any monetary contribution isdepositedtothecorrectaccount.



RegularInvestmentPlanA Regular Investment Plan allows you to make regular,automatic investments into selected Portfolios in yourManaged Account from a nominated credit union, buildingsocietyorbankaccount(yourNominatedBankAccount)onamonthly or quarterly (March, June, September, December)basis.

Amounts invested under a Regular Investment Plan will bedeductedfromyournominatedbankaccountonorafterthe15thdayofeachrelevantmonth.

IfyouwishtoestablishaRegular InvestmentPlanforanewManagedAccount, complete the appropriate section of theManaged Account Application Form. To add a RegularInvestment Plan to an existing Managed Account, pleasecontact your Financial Adviser or complete the RegularInvestment Plan Form available from your Financial Adviserorfromhttps://gamma.managedaccounts.com.au

TheinitialrequestmustbereceivedbyIASforprocessingatleastfivebusinessdayspriortothe15thdayofthemonthinwhichyouwishtocommenceyourRegularInvestmentPlan.

You can change your Nominated Bank Account, alter theamount of the regular investment, change the InvestmentOption into which it is contributed or cancel a RegularInvestment Plan by completing a Regular Investment PlanForm or notifying IAS in writing through your FinancialAdviser. Please allow five business days for your request tobeimplemented.

InstructionsonInvestmentsYouareableto instruct IAStoexcludeinvestment incertaincompanies from yourManaged Account. Your instructionscan be provided in the Application Form for the ManagedAccountorinawrittenrequest.Shouldaninvestmentoptioninclude an investment you requested be excluded, theamount allocated to that investmentwill beheld aspart ofthecashholdinginyourPortfolio.

TaxAccountingMethodYouareabletomanagethecapitalgainstaxpositionofyourManagedAccountbynominatingthetaxaccountingmethodthatsuitsyoubest.Thismethodwillbeused forcalculationofcapitalgainstaxonthesaleofsecuritiesfromallPortfoliosinyourManagedAccount.

You can select from the following tax accountingmethodologies:

Method

FirstInFirstOut(FIFO)

Holdingsofasecuritywillbesoldstartingwiththefirstpurchased

HighestCost Holdingsofasecuritywillbesoldstartingwiththelotwiththehighestcost

LastInFirstOut Holdingsofasecuritywillbesold

(LIFO) startingwiththemostrecentlypurchased

LongTerm,HighestCost

Holdingsofasecuritywillbesoldstartingwithhighestcostparcelheldover12months

LowestCost Holdingsofasecuritywillbesoldstartingwiththelotwiththelowestcost

IfyoudonotmakeaselectiontheLongTerm,HighestCostmethodwillbeused.

WerecommendthatyouspeaktoyourFinancialAdviserorataxspecialistwhenselectingyourtaxaccountingmethod.

WithdrawalsYoucanrequestawithdrawalfromyourManagedAccountatany time, subject to maintaining the minimum balance foryourManagedAccount. Proceeds of thewithdrawalwill bepaidbyelectronictransfertoaNominatedBankAccount.

Tomakeawithdrawalplease:

¡ contactyourFinancialAdviserwhowillfacilitatethewithdrawalforyou,or

¡ completetheWithdrawalFormavailablefromhttps://gamma.managedaccounts.com.auandprovidetoyourFinancialAdviser,or

¡ provide a written request to your Financial Adviser,signed by the authorised signatories of the ManagedAccount,whichstates:o yournameo yourManagedAccountNumbero theamountofthewithdrawal,o thepayeeandNominatedBankAccounttopaythe

withdrawalto,ando thePortfolio(s)fromwhichthewithdrawalistobe

made.

If sufficient cash is available in your nominated Portfolio,withdrawals are usually completed within three businessdays.

Where sufficient cash is not available in your nominatedPortfolio, the investment manager will sell investments inthat Portfolio to obtain the cash required. Proceeds of thewithdrawal will generally be available within five to eightbusiness days. When an event outside IAS’s control affectstheabilitytosellinvestmentssuchassuspensionoftradinginamarket,paymentwillbemadeassoonasispracticable.



RegularWithdrawalPlanA Regular Withdrawal Plan allows you to have a specifiedamountpaidtoyournominatedcreditunion,buildingsocietyor bank account from selected Portfolios in your ManagedAccountonaperiodicbasis.

Payments will be processed on or before the nominatedpayment date. You should allow twobusiness days for thepaymenttoreachyouraccount.

IfyouwishtoestablishaRegularWithdrawalPlanforanewManagedAccount, complete the appropriate section of theManaged Account Application Form. To add RegularWithdrawal Plan to an existing Managed Account, pleasecomplete the RegularWithdrawal Plan Form available fromyourFinancialAdviserorfromhttps://gamma.managedaccounts.com.au

TheinitialrequestmustbereceivedbyIAS,forprocessing,atleast fivebusinessdayspriortothecommencementofyourRegularWithdrawalPlan.

You can change your Nominated Bank Account, alter theamount of the regular withdrawal, change the InvestmentOption from which the withdrawal is taken or cancel theRegularWithdrawalPlanbycompletingaRegularWithdrawalPlan Formor notifying IAS inwriting through your FinancialAdviser. Please allow five business days for your request tobeimplemented.

ChangingYourAccountDetailsTochangetheaccountdetailsofyourManagedAccountyoushould:

¡ completetherelevantformavailablefromyourFinancialAdviserorhttps://gamma.managedaccounts.com.auor

¡ provideawrittenrequestthatissignedbytheauthorisedsignatories of the Managed Account, and states yournameandManagedAccountNumber.

If you wish to change the Nominated Bank Account intowhich withdrawals are paid, you must provide a writtenrequestsignedbytheauthorisedsignaturesoftheManagedAccount.

SwitchingYou can switch between Investment Options, at any time,subject to maintaining any specified minimum balance foreachPortfolio.Toswitchyoushould:

¡ completetheSwitchingFormavailablefromyourFinancialAdviserorhttps://gamma.managedaccounts.com.auor

¡ make a request in writing that is signed by theauthorised signatories of the Managed Account, andstates:o yournameo yourManagedAccountNumbero theamountoftheswitch,ando the Investment Options to which the switch

relates.

When switching, your Portfolio will be managed by theInvestment Manager from the date the investments areswitched to the new Portfolio. Generally, your switchedinvestmentamount is investedwithintwentybusinessdays,although considerations such as market conditions,availability and liquidity of securities and investments,upcoming new issues and economic parcel sizesmay affectthistimeframe.

ClosingYourManagedAccountIf you decide to close your Managed Account you canrequest:

¡ thesaleofsecuritiesinyourPortfoliosandtheproceedsbepaidtoaNominatedBankAccount

¡ the transfer of securities in your Portfolios into anaccountinthesamenameasyourManagedAccount,or

¡ acombinationofthese.

To close your Managed Account, you should complete aWithdrawal Form, available from your Financial Adviser orhttps://gamma.managedaccounts.com.au

Ifyoudecidetotransfersecurities,theywillbetransferred,inaccordance with your instructions, to either an issuersponsoredorbrokersponsoredCHESSHIN,whichmustbeinthe same name as your Managed Account. The ManagedAccountwillgenerallybeclosedwithintendaysofreceiptofyourrequest.

PriortoclosingyourManagedAccount,allfeesandexpensesowing will be deducted. Any Investment ManagementPerformance Fee owing is calculated from the date the feewaslastincurredtothedateofwithdrawal.

Instructions

GeneralAny instructions for your Managed Account should beprovidedthroughyourFinancialAdviser.

ElectronicinstructionsBoth you and your Financial Adviser can use facsimiletransmission or email to provide instructions for yourManaged Account. Your Financial Adviser can also use thehttps://gamma.managedaccounts.com.auwebsitetoprovideinstructionsonyourManagedAccount.

In sending any electronic instruction you release IAS from,andindemnifyIASagainst,alllossesandliabilitiesarisingasaresult of processing an instruction that includes yourManagedAccountNumberandasignaturethatisapparentlyyour signature or that of an authorised signatory of yourManaged Account. You bear the risk of a fraudulentwithdrawalrequestmadebyapersonwhohasaccesstoyourManagedAccountNumberandsignature.

The Managed Account Contract clearly sets out clientacknowledgementsandindemnitieswhensendingelectronicinstructions.



TaxationAsthebeneficialowneroftheassetsheldinthePortfoliosinyourManagedAccount,all income,capitalgainsandcapitallossesandtheirtaxationconsequencesarepassedtoyou.

Aftertheendofthefinancialyearyouwillbeprovidedwithdetails of income, capital gains or losses, tax credits andother items to allow you to complete your tax return. It isrecommendedthatyouspeaktoyourfinancialadviserortaxspecialist when considering the tax treatment of yourinvestments.

Non-residenttaxationIfyouareaninvestorwhoisanon-Australianresidentfortaxpurposes, Australian withholding tax and non-residentincome tax will be deducted from dividends, interest andotherAustraliansourcedincome.

TaxFileNumberorAustralianBusinessNumberIfyouareanAustralianresidentandaTaxFileNumber(TFN)or Australian Business Number (ABN) or exemption is notquoted, tax will be deducted from any income you earn atthehighestmarginalrateplusMedicarelevy.

ReportingOnceyourManagedAccountisestablishedyouaregrantedonlineaccesstoinformationonyourManagedAccount,viathesecurewebsitehttps://gamma.managedaccounts.com.au

You will separately receive a user name and a password,which allows you to access thewebsite and reports for thePortfoliosinyourManagedAccount.Onyourfirstvisittothewebsite youwill be asked to change your password beforebeingabletoviewdetailsofyourManagedAccount.

Online reporting allows you to view daily reports for thePortfolios in your Managed Account as at the previousbusinessdaythatshow:

¡ transactionssuchasanypurchasesorsalesofsecurities,¡ income transactions such as interest and dividends and

includingfrankingcreditsandanywithholdingtax,¡ portfoliovaluation,and¡ realisedandunrealisedcapitalgains.Your holdings in securities and other investments can beviewed either by each Portfolio or consolidated, i.e. allPortfoliosheldinyourManagedAccount.

ThePortfolioValuationusescloseofmarketpricesfor listedinvestments.Thesearesuppliedbyanindependentfinancialdatacompany.

Any unlisted security such as managed funds held in yourPortfoliowillbevaluedatleastweekly,wherepossible,usingtheredemptionpriceprovidedbythirdpartyprovidersorthefundmanager.Forunlistedsecurities,IASwillprovideapricewhichitreasonablyconsidersreflectsthemarketpriceofthesecurity,or if it isunable to reasonablydetermineamarketprice,itwillapplyabestestimateofafairprice.

QuarterlyReportInadditiontodailyonlinereporting,youcanaccessquarterlyconsolidatedreportsthatshow:

¡ valuationsofyourinvestmentsatthereportdate¡ performance of the Portfolios in yourManagedAccount

fortheperiod¡ alltransactionsundertakensincethelastreport¡ income received in the Portfolios in your Managed

Accountsincethelastreport¡ expenses and costs in your Managed Account for the

periodofthereport,and¡ realisedgainsorlossesfromthesaleofinvestmentssince

thelastreport.

Ifyoudonothaveaccesstohttps://gamma.managedaccounts.com.auyourFinancialAdviserwillprovideyouwithahardcopyofthequarterlyconsolidatedreport.

TaxReportsThe following reports are available to assist you with taxplanning:

¡ unrealisedcapitalgainand/orcapital lossreport-detailsofthecapitalgainand/orcapitallossoneachparcelofasecurityheldinyourPortfolio;

¡ realisedcapitalgainand/orcapitallossreport-detailsofthecapitalgainand/orcapital loss foreachsecuritysoldfromyourPortfolio.

Youwillalso receiveanAnnualTaxStatementannually thatsummarises the tax position of the Portfolios in yourManagedAccountincluding:

¡ realisedgainsandlossesfromthesaleofinvestments;¡ income received from investments including interest on

yourcashaccount;¡ frankingcreditsreceived;¡ expensesandcosts,and¡ other tax components such as foreign income, deferred

tax,TFNwithholdingtaxandother itemswhichrelatetoincomereceivedfromyourinvestments.

The tax report will assist in the preparation of your taxreturn. In your report, IAS will estimate the capital gainattributable to each realised gain or loss, but the finalresponsibilityforthiswillremainwithyouwhenyouprepareyourtaxreturn.ThisreportwillgenerallybeavailablebytheendofOctobereachyear.

AnnualReportIASwillprovideyouwithanannualonlinereportthatshows:

¡ valuationsoftheinvestmentsinyourManagedAccount;¡ alltransactionsundertaken;¡ incomereceived;¡ expensesandcosts;¡ areportfromtheauditorsofIAS.

Ifyoudonothaveaccesstohttps://gamma.managedaccounts.com.au,yourFinancial



AdviserwillprovideyouwithahardcopyoftheannualreportforyourManagedAccount.

Annually,yourFinancialAdviserwillperformareviewofyourcircumstances and provide financial advice that confirmswhethertheInvestmentOption(s)youhaveselectedremainappropriateforyou.

GAMMA ASSET MANAGEMENT MANAGED ACCOUNTS

gammaassetmanagement.com.au

Level 10, The Rocket

203 Robina Town Centre Drive

ROBINA QLD 4226

PO BOX 3635

Robina Town Centre

ROBINA QLD 4230

gammawealthgroup.com.au

Corporate 040 334 AFSL: • 330 682 134 56 ABN: • Group Wealth Gamma of 453428 representative authorised

© 2017 Investment Administration Services Pty Limited March 2017

Documents

Final Gamma IO Document V7.2 REBRANDED€¦ · IAS, Gamma and Gamma Wealth Group and their directors, officers, employees, and associates may from time to time hold interests in securities