BT Multi-manager benchmarks

The benchmark for each fund is created from a blend of the following indices based on the Fund's exposure to different asset classes. The benchmark is calculated by using the weighted average asset allocation neutral position and the index returns in AUD for each asset class.

Asset Class Indices
Australian Shares S&P/ASX 300 Accumulation Index
International Shares 1 MSCI World ex Australia Index (with Net Dividends Reinvested)
Australian Property

S&P/ASX 300 Property Accumulation Index
Global Property UBS Global Property Investors ex Australia Index hedged
Australian Fixed Interest UBS Composite Bond Index
International Fixed Interest Lehmann Aggregate Bond Index hedged
Diversified Hedge Funds UBS Bank Bill Index
Cash UBS Bank Bill Index

1 The benchmark changed from unhedged to partially hedged from July 2005.