Macquarie Special Events Fund

Inception Date

October 2003

Investment Objective

The Fund's objective is to capture price movement generated by corporate events such as a mergers, corporate restructures and markets’ mispricing of securities issued by the same entity or related entities.

Investment Strategy

The Investment Manager uses a number of strategies to participate in "special situations" that arise in the Australian and New Zealand share markets. If a special situation arises the Investment Manager will trade in securities that it considers to be affected by the relevant situation and are mispriced by the market.

This Fund typically has low correlation to the Australian share market as its performance is determined according to company (or trust) special situations rather than general or market price movements.

Note: Above is an extract of information contained in the product disclosure statement for this Fund. Please refer to the product disclosure statement for a complete description of the fund, including the risks and fees of investing in it.

This general advice is provided by MQ Portfolio Management Limited ABN 55 092 552 611 (“MPML”), the issuer of the MQ Specialist Funds. It does not take into account your objectives, financial situation or needs.  You should consider the appropriateness of this advice having regard to these matters, and read the Product Disclosure Statement (“PDS”), before making any investment decision.  The PDS is available from 1800 025 513.

Macquarie Group, its employees and officers may act in different, potentially conflicting, roles in providing the financial services referred to in this general advice.  The Macquarie Group has conflict of interest policies which aim to manage conflicts of interest.  Macquarie will receive remuneration and pay commission to introducing advisers as described in the PDS.

The distribution of this information in jurisdictions outside Australia may be restricted by law and persons into whose possession the information comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of an applicable jurisdiction.

Investments in the MQ Specialist Funds are not deposits with or liabilities of Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie”) or any Macquarie Group company and are subject to investment risk, including possible delays in repayment and loss of income and capital invested.  None of Macquarie or any other Macquarie Group company guarantees the performance of the MQ Specialist Funds, the repayment of capital from the MQ Specialist Funds or any particular rate of return.

Information is current at 25 July 2008 and may change without notice.