About  the  Portfolio  The  objective  of  the  AltaVista  Income  Portfolio  (the  “Model”)  is  to  outperform  its  benchmark,  the  RBA  Cash  Rate  plus  4%  (Cash  +4%),  over  rolling  three  year  periods.  The  portfolio  seeks  a  franked  income  stream  from  investing  in  the  Australian  equity  market  (excluding  property  trusts)  over  at  least  three  to  five  years  and  is  for  investors  who  accept  the  risk  of  price  fluctuations.    Portfolio  Strategy  The primary aim of the AltaVista Income Portfolio is to provide the investor with a tax effective and growing income stream sourced primarily from dividend payments by companies listed on the Australian Stock Exchange. Through investing in equity markets there is also the prospect of capital gains over time. The investment objective is pursued by investing in a moderately diversified portfolio of shares, whilst maintaining low portfolio turnover levels. The Model invests in stocks which are expected to pay grossed-up dividend yields (including anticipated special dividends) in excess of the market average over the medium term. A portfolio of these stocks is developed in a manner which aims to ensure that industry exposures are diverse.

Designed  for  investors  who  .  .  .    • Seek  a  tax-­‐effective  income  stream  with  capital  growth  

prospects;  • Accept  the  risk  that  some  volatility  will  be  experienced;  and  • Prefer  lower  portfolio  turnover  (approximately  30%  per  year)  

for  tax-­‐effective  performance.      

Performance  as  at  31  March  2015  

As  at  31  Mar  2015       S&P/ASX  100   Relative  

    Gross   Accum.  Index   Performance  

1  Month  Return   0.8%   0.1%   0.6%  

3  Month  Return   12.3%   10.4%   1.8%  

6  Month  Return   17.7%   16.1%   1.7%  

1  Year  Return   17.3%   15.0%   2.3%  

3  Year  Return  %  p.a.   14.7%   16.9%   -­‐2.3%  

5  Year  Return  %  p.a.   8.9%   9.1%   -­‐0.2%  

Since  Inception  %  p.a.^   5.0%   6.4%   -­‐1.4%    Source:  Praemium  *  Shows  the  difference  between  Model  Portfolio  Gross  Return  and  Benchmark  Return.  ^  9  August  2006  based  on  the  Van  Eyk  Income  Portfolio.  Past  performance  is  no  indicator  of  future  performance.  Long  term  performance  returns  show  the  potential  volatility  of  returns  over  time.  The  value  of  investments  and  the  income  from  them  can  fall  as  well  as  rise  and  is  not  guaranteed.  You  may  not  get  back  the  amount  originally  invested.  Fluctuation  may  be  particularly  marked  in  the  case  of  a  higher  volatility  fund  and  the  value  of  an  investment  may  fall  suddenly  and  substantially.  Model  portfolio  composition  and  performance  have  been  based  on  theoretical  tracking  of  the  model  portfolio  and  are  gross  of  fees  and  do  not  take  tax  positions  into  account.  Please  note,  actual  portfolios  may  not  perform  in  the  same  manner  as  the  model  depicted  in  this  document,  depending  on  [the  nature  of  your  personal  Portfolio  and  any  customisations.                        

   

Top  Ten  Holdings  

    Company   %  

1   Commonwealth  Bank  of  Australia   10.5%  

2   Westpac  Banking  Corporation   10.3%  

3   Australia  and  New  Zealand  Banking  Group   8.9%  

4   National  Australia  Banking  Limited   7.1%  

5   Telstra  Corporation  Limited   6.4%  

6   Wesfarmers  Limited   4.7%  

7   Tatts  Group  Limited   4.4%  

8   Toll  Holdings  Limited   3.8%  

9   Tabcorp  Holdings  Limited   3.8%  

10   IOOF  Holdings  Limited   3.6%      

     

Portfolio  Information  

       Model  Portfolio  Name   AltaVista  Income  Code   VE  0002  Model  Inception  Date   27  June  2006  Primary  Investment  Objective  

Growing  income  stream  with  some  capital  growth  from    

   Australian  shares  over  at  least  3  to  5  

years  Can  derivatives  be  used?   No  Indicative  Number  of  Stocks   15-­‐25  Minimum  Model  Investment   No  minimum  Investment  Fee   0.33%  p.a.  Performance  Fee  Applicable  

11%  of  outperformance  over  the  benchmark  

Benchmark  Index   4%  above  the  RBA  cash  rate  after  costs    

5,000  

7,000  

9,000  

11,000  

13,000  

15,000  

17,000  

19,000  

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