Compliance and Administration

The Hongkong and Shanghai Banking Corporation Limited, Sydney Branch acts as the Administrator of the Absolute Trust. National Australia Bank Asset Services is the Administrator for the Benchmark Independent Fund.

The Fund Administrator is responsible for the general administration of the Fund which includes keeping the register of Unitholders, arranging for the issue and redemption of shares and calculation of asset valuations and fees. The official register will be maintained in Australia by the Fund Administrator or its delegate.