Macquarie Equinox

Further to the investor letter dated 18 November 2011 relating to the Capital Protection maturity of the Macquarie Equinox Limited-Class C Participating Shares and Macquarie Equinox Limited-Class C1 Participating Shares, please note the estimated share price at maturity is incorrectly quoted in USD. The share price for Macquarie Limited is in AUD and should read in AUD, being the base currency of the fund. We apologise for any inconvenience caused.

Please note that incorrect data relating to the '% NAV in illiquid investments as at 30 June 2011' was reported in the Macquarie Equinox Trust Series June 2011 Quarterly Report for both Macquarie Equinox Asia Trust Class A and Macquarie Equinox Asia 2 Trust Class A only. The amounts reported in this report for June 30 2011 was representative of the % NAV in liquid investments as at 30 June 2011 , and therefore incorrect. The correct values are detailed as follows:

	Macquarie Equinox Asia Trust Class A	Macquarie Equinox Asia 2 Trust Class A
% NAV in illiquid investments as at 30 June 2011	9%	9%

We apologies for any inconvenience this may have caused. Further information will  be made available in the September 30 2011 Quarterly Report.

Please note that letters sent to investors in Macquarie Equinox Limited - Classes A and A1 entitled "Compulsory Withdrawal - Macquarie Equinox Limited“ and dated 28 February 2011, incorrectly referred to MQ Portfolio Management Limited as the arranger for Macquarie Equinox Limited. The arranger for Macquarie Equinox Limited is Macquarie Investment Management Limited. We apologise for any inconvenience caused.

The recent Liquidity Proposal in relation to Macquarie Equinox has successfully been completed with a distribution provision being made available for all Macquarie Equinox vehicles. Investors who elected to participate in the recent Liquidity Proposal and were not required to make a Macquarie Investment Loan Shortfall payment, should commence receiving their distribution on or about March 2010.

Investors with an investment loan who are required to make a Macquarie Investment Loan Shortfall payment will receive correspondence notifying them of their shortfall and advising them of the relevant direct debit date. Participation in the Liquidity Proposal for these investors is contingent on the payment of their shortfall.

Investors in one or more of the following Macquarie Equinox vehicles will be given the opportunity to participate in a liquidity proposal, which enables investors in the relevant Macquarie Equinox vehicle to receive a distribution from their investment in or about March 2010 whilst retaining an adjusted level of capital protection at the Capital Protection Date of their investment, notwithstanding the current suspension of redemptions in each vehicle.

• Macquarie Equinox Limited - Classes A, B, C, E & F
• Macquarie Equinox 6 Trust
• Macquarie Equinox Asia Trust
• Macquarie Equinox Asia 2 Trust
• Macquarie Select Opportunities Trust

To view a sample investor letter explaining the proposal and worked examples showing the potential and indicative effect of the proposed distribution on a cash investor and a geared investor please click on the appropriate link below:

Offer	Explanatory Memorandum	Sample investor letter
Equinox Class A	download	download
Equinox Class B	download	download
Equinox Class C	download	download
Equinox Class E	download	download
Equinox Class F	download	download
Equinox 6 Trust	download	download
Equinox Asia Trust	download	download
Equinox Asia 2 Trust	download	download
Equinox Select Opportunities Trust	download	download

To download the calculator, please click here.

Those electing to participate in the proposal must have their completed Election Form back to us by 5pm AEST, 18 December 2009.

Redemptions for all Macquarie Equinox investments have been suspended until further notice.

For more information, please click on the appropriate link below:

• Macquarie Equinox Limited
• Macquarie Equinox Trusts

For the latest update, please click on the appropriate link below:

• Macquarie Equinox Limited
• Macquarie Equinox Trusts

Redemption requests submitted for redemption dates prior to 28 November 2008 will be processed in accordance with normal redemption procedures. All other redemption requests received (including requests for the 28 November redemption date) will be held over until the suspension is lifted.

ASIC has granted MQ Portfolio Management Limited ("MPML"), the responsible entity of the Macquarie Equinox Asia 2 Trust ("Trust"), an exemption from the laws which govern registered managed investment schemes to allow early withdrawals to be made from the Trust on hardship grounds, notwithstanding that the redemptions of units from the Trust have been suspended.

This means that MPML is now able to allow people who are suffering financial hardship to withdraw from the Trust, an amount from their investment if they meet the conditions specified by ASIC. These are permanent incapacity, certain specified compassionate grounds or severe financial hardship. For further information regarding hardship withdrawals, please call Client Service on 1800 080 033.

On 16 November 2009, Macquarie Equinox Limited appointed Macquarie Investment Management Limited ABN 66 002 867 003 ("MIML") as the new arranger of Macquarie Equinox Limited to arrange for the variation of certain terms relating to classes A, B, C, E and F of Macquarie Equinox Limited, to give effect to the Liquidity Proposal. MIML will also provide related services in connection with the offer of interests in Macquarie Equinox Limited and will receive an arranger fee as set out in the relevant prospectus. MIML's Australian financial services licence number is 237492.

Please note that effective 13 August 2010, Bond Street Custodians Limited (ABN 57 008 607 065) ("BSCL") replaced Belike Nominees Pty Limited (ABN 31 008 604 966) as the custodian for the following Macquarie Equinox trusts:

• Macquarie Equinox 6 Trust ARSN 113 966 500
• Macquarie Equinox Asia Trust ARSN 115 798 368
• Macquarie Equinox Asia 2 Trust ARSN 117 868 336
• Macquarie Equinox Select Opportunities Trust ARSN 119 029 355

BSCL is part of the Macquarie Group and the arrangements with BSCL have been entered into on an arm's length basis.  We will monitor and review BSCL's procedures and systems to ensure that custodial functions are carried out efficiently and properly.

The offer for Class A Participating Shares in Macquarie Equinox Limited is now closed.

Estimated performance information for the Class A Participating Shares as at month end December 2011 is as follows:

Fund Facts	Class A	Class A1
NAV per Share*	$1.0531	$0.2644
1 Month Return	-1.54%	-2.47%
Capital Protected Level+	$1.050	$0.1983
Dividend++	$0.000	$0.0960
Profit Lock-ins+	$0.050	N/A

Past performance is not a reliable indicator of future performance and should not be relied upon as a significant basis for an investment decision.

Definitions for Class A shares

• Nominal Share Price: the NAV of the Equinox Portfolio adjusted such that company set-up costs and Adviser Referral Fees are capitalised and amortised over the Company's first 3 year trading period, divided by the number of Shares.
• Total Return Index: an accumulation index of the Equinox Portfolio NAV per share calculated assuming the reinvestment of Cash Dividends

* Redemptions from Macquarie Equinox Limited are suspended as is calculation of the official NAV. The NAV and portfolio performance provided above are estimates and hence indicative only.

Investors that redeemed during the period December 2007 to November 2008 will continue to receive distributions relating to the liquidation of the Drake Global Opportunities Fund ("Drake") until such time that the holding in Drake is fully redeemed from each portfolio. For investors that remain invested in the fund the liquidation proceeds will be fully allocated to cash.

If you have any queries please contact the Client Service Team on 1800 025 513.

⁺ Capital Protection is subject to the terms and conditions of the Capital Protection Agreement as described in each prospectus. Profit Lock-ins and Cash Dividends are at the discretion of Equinox.

⁺⁺ Dividend declaration date was 20 July 2007. No dividend was declared at 30 June 2008.

^# Annualised since Inception. Class A Inception - Dec 2003.

The information pertaining to investment performance of Shares set out above does not represent the prices payable on redemption or transfer. Redemption and transfer prices will be calculated in accordance with the methodology set out in the prospectus.

The offer for Class B Participating Shares in Macquarie Equinox Limited is now closed.

Estimated performance information for the Class B Participating Shares as at month end December 2011 is as follows:

Fund Facts	Class B	Class B1
NAV per Share*	$1.1739	$0.4751
1 Month Return	0.74%	0.34%
Capital Protected Level+	$1.091	$0.3792
Dividend++	$0.000	$0.0947
Profit Lock-ins+	$0.060	N/A

Past performance is not a reliable indicator of future performance and should not be relied upon as a significant basis for an investment decision.

Definitions for Class B shares

Total Return Index: an accumulation index of the Equinox Portfolio NAV per share calculated assuming the reinvestment of Cash Dividends.

* Redemptions from Macquarie Equinox Limited are suspended as is calculation of the official NAV. The NAV and portfolio performance provided above are estimates and hence indicative only.

Investors that redeemed during the period December 2007 to November 2008 will continue to receive distributions relating to the liquidation of the Drake Global Opportunities Fund ("Drake") until such time that the holding in Drake is fully redeemed from each portfolio. For investors that remain invested in the fund the liquidation proceeds will be fully allocated to cash.

If you have any queries please contact the Client Service Team on 1800 025 513.

⁺ Capital Protection is subject to the terms and conditions of the Capital Protection Agreement as described in each prospectus. Profit Lock-ins and Cash Dividends are at the discretion of Equinox.

⁺⁺ Dividend declaration date was 20 July 2007. No dividend was declared at 30 June 2008.

^# Annualised since inception. Class B Inception - May 2004.

The information pertaining to investment performance of Shares set out above does not represent the prices payable on redemption or transfer. Redemption and transfer prices will be calculated in accordance with the methodology set out in the prospectus.

The offer for Class C Participating Shares in Macquarie Equinox Limited is now closed.

Estimated performance information for the Class C Participating Shares as at month end December 2011 is as follows:

Fund Facts	Class C	Class C1
NAV per Share*	$1.1017	$0.3202
1 Month Return	0.11%	-0.40%
Capital Protected Level+	$1.106	$0.3116
Dividend++	$0.000	$0.0285
Profit Lock-ins+	$0.075	N/A

Past performance is not a reliable indicator of future performance and should not be relied upon as a significant basis for an investment decision.

Definitions for Class C shares

Total Return Index: an accumulation index of the Equinox Portfolio NAV per share calculated assuming the reinvestment of Cash Dividends.

* Redemptions from Macquarie Equinox Limited are suspended as is calculation of the official NAV. The NAV and portfolio performance provided above are estimates and hence indicative only.

Investors that redeemed during the period December 2007 to November 2008 will continue to receive distributions relating to the liquidation of the Drake Global Opportunities Fund ("Drake") until such time that the holding in Drake is fully redeemed from each portfolio. For investors that remain invested in the fund the liquidation proceeds will be fully allocated to cash.

If you have any queries please contact the Client Service Team on 1800 025 513.

⁺ Capital Protection is subject to the terms and conditions of the Capital Protection Agreement as described in each prospectus. Profit Lock-ins and Cash Dividends are at the discretion of Equinox.

⁺⁺ Dividend declaration date was 20 July 2007. No dividend was declared at 30 June 2008.

^# Annualised since inception. Class C Inception - July 2004.

The information pertaining to investment performance of Shares set out above does not represent the prices payable on redemption or transfer. Redemption and transfer prices will be calculated in accordance with the methodology set out in the prospectus.

The offer of Class D Participating Shares of Macquarie Equinox Limited is closed.

Macquarie Equinox Index - Class D is the net asset value, expressed in euro, of Class D Participating Shares of Macquarie Equinox Limited, and hence it reflects the performance of the portfolio pertaining to Class D Participating Shares.

Estimated performance information for the Class D Participating Shares as at month end March 2011 is as follows:

Fund Facts	Class D
NAV per Share*	€ 524.21
1 Month Return	3.87%
Macquarie Equinox Index	€9,962.5339
Managed Capital Level+	€10,000.0000

Past performance is not a reliable indicator of future performance and should not be relied upon as a significant basis for an investment decision.

* Redemptions from Macquarie Equinox Limited are suspended as is calculation of the official NAV. The NAV and portfolio performance provided above are estimates and hence indicative only.

If you have any queries please contact the Client Service Team on 1800 025 513.

^# Class D Inception - January 2005

⁺ The Managed Capital Level and Profit Increments only apply on the Managed Capital Return Date and are subject to the terms and conditions of the Threshold Management Agreement as described in the Summary Document for the Class D Shares. The timing and magnitude of Profit Increments are at the discretion of Equinox.

This general advice has been provided by Macquarie Securities (Australia) Limited ABN 58 002 832 126 (“MSAL”), a holder of an Australian Financial Services Licence.  Before acting on this general advice, you should consider the appropriateness of the advice having regard to your particular situation. This advice does not take account of your objectives, financial situation or needs. We recommend you obtain financial, legal and taxation advice before making any financial investment decision.

The information pertaining to investment performance of class D shares does not represent the prices payable on redemption or transfer. Redemption and transfer prices will be calculated in accordance with the methodology set out in the Summary Document dated 12 January 2005 ("Offer Document"). You should obtain a copy of the Offer Document from MSAL and consider it before making any investment decision.  MSAL has made every effort to ensure the performance information is accurate and has provided the information in good faith, however its accuracy, reliability or completeness is not guaranteed and no responsibility for the accuracy, completeness or timeliness of the information is accepted.

Macquarie Equinox Limited ("Equinox "), a company incorporated in Bermuda, is not an authorised deposit taking institution for the purposes of the Banking Act (Cth) and its obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 ("Macquarie") or any other Macquarie Group company. Macquarie does not guarantee or otherwise provide assurance in respect of the obligations of Equinox.

The distribution of the 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.

Investors are reminded of the risks inherent in international investments, such as currency fluctuations and international stock market or economic conditions, which may adversely affect the value of the investment.

Information is current at 26 August 2007 and may change without notice.

The offer for Class E Participating Shares in Macquarie Equinox Limited is now closed.

Estimated performance information for the Class E Participating Shares as at month end December 2011 is as follows:

Fund Facts	Class E	Class E1
NAV per Share*	$0.9449	$0.2919
1 Month Return	0.15%	-0.17%
Capital Protected Level+	$1.000	$0.3354
Dividend++	$0.000	$0.0000
Profit Lock-ins+	-	N/A

Past performance is not a reliable indicator of future performance and should not be relied upon as a significant basis for an investment decision.

Definitions for Class E shares

Total Return Index: an accumulation index of the Equinox Portfolio NAV per share calculated assuming the reinvestment of Cash Dividends.

* Redemptions from Macquarie Equinox Limited are suspended as is calculation of the official NAV. The NAV and portfolio performance provided above are estimates and hence indicative only.

Investors that redeemed during the period December 2007 to November 2008 will continue to receive distributions relating to the liquidation of the Drake Global Opportunities Fund ("Drake") until such time that the holding in Drake is fully redeemed from each portfolio. For investors that remain invested in the fund the liquidation proceeds will be fully allocated to cash.

If you have any queries please contact the Client Service Team on 1800 025 513.

⁺ Capital Protection is subject to the terms and conditions of the Capital Protection Agreement as described in each prospectus. Profit Lock-ins and Cash Dividends are at the discretion of Equinox.

⁺⁺ Dividend declaration date was 20 July 2007. No dividend was declared at 30 June 2008.

^# Class E Inception - December 2004
The information pertaining to investment performance of Shares set out above does not represent the prices payable on redemption or transfer. Redemption and transfer prices will be calculated in accordance with the methodology set out in the prospectus.

The offer for Class F Participating Shares in Macquarie Equinox Limited is now closed.

Estimated performance information for the Class F Participating Shares as at month end December 2011 is as follows:

Fund Facts	Class F	Class F1
NAV per Share*	$1.1348	$0.2194
1 Month Return	0.09%	-0.41%
Capital Protected Level+	$1.000	$0.0324
Dividend++	$0.000	$0.0548
Profit Lock-ins+	-	N/A

Past performance is not a reliable indicator of future performance and should not be relied upon as a significant basis for an investment decision.

Definitions for Class F shares

Total Return Index: an accumulation index of the Equinox Portfolio NAV per share calculated assuming the reinvestment of Cash Dividends.

* Redemptions from Macquarie Equinox Limited are suspended as is calculation of the official NAV. The NAV and portfolio performance provided above are estimates and hence indicative only.

Investors that redeemed during the period December 2007 to November 2008 will continue to receive distributions relating to the liquidation of the Drake Global Opportunities Fund ("Drake") until such time that the holding in Drake is fully redeemed from each portfolio. For investors that remain invested in the fund the liquidation proceeds will be fully allocated to cash.

If you have any queries please contact the Client Service Team on 1800 025 513.

+ Capital Protection is subject to the terms and conditions of the Capital Protection Agreement as described in each prospectus. Profit Lock-ins and Cash Dividends are at the discretion of Equinox.

++ Dividend declaration date was 20 July 2007. No dividend was declared at 30 June 2008.

# Class F Inception - April 2005

The information pertaining to investment performance of Shares set out above does not represent the prices payable on redemption or transfer. Redemption and transfer prices will be calculated in accordance with the methodology set out in the prospectus.

The offer of Class J Participating Shares of Macquarie Equinox Limited is closed.

Macquarie Equinox Index - Class J is the net asset value, expressed in euro, of Class J Participating Shares of Macquarie Equinox Limited, and hence it reflects the performance of the portfolio pertaining to Class J Participating Shares.

Estimated performance information for the Class J Participating Shares as at month end March 2011 is as follows:

Fund Facts	Class J
NAV per Share*	€ 930.85
1 Month Return	5.51%
Macquarie Equinox Index	10,114.75
Capital Protected Level+	€10,000.00

Past performance is not a reliable indicator of future performance and should not be relied upon as a significant basis for an investment decision.

* Redemptions from Macquarie Equinox Limited are suspended as is calculation of the official NAV. The NAV and portfolio performance provided above are estimates and hence indicative only.

If you have any queries please contact the Client Service Team on 1800 025 513.

# Class J Inception - January 2006

⁺ The Managed Capital Level and Profit Increments only apply on the Managed Capital Return Date and are subject to the terms and conditions of the Threshold Management Agreement as described in the Summary Document for the Class J Shares. The timing and magnitude of Profit Increments are at the discretion of Equinox.

 This general advice has been provided by Macquarie Securities (Australia) Limited ABN 58 002 832 126 (“MSAL”), a holder of an Australian Financial Services Licence.  Before acting on this general advice, you should consider the appropriateness of the advice having regard to your particular situation. This advice does not take account of your objectives, financial situation or needs. We recommend you obtain financial, legal and taxation advice before making any financial investment decision.

The information pertaining to investment performance of class J shares does not represent the prices payable on redemption or transfer. Redemption and transfer prices will be calculated in accordance with the methodology set out in the Summary Document dated 12 January 2006 ("Offer Document"). You should obtain a copy of the Offer Document from MSAL and consider it before making any investment decision.  MSAL has made every effort to ensure the performance information is accurate and has provided the information in good faith, however its accuracy, reliability or completeness is not guaranteed and no responsibility for the accuracy, completeness or timeliness of the information is accepted.

Macquarie Equinox Limited ("Equinox "), a company incorporated in Bermuda, is not an authorised deposit taking institution for the purposes of the Banking Act (Cth) and its obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 ("Macquarie") or any other Macquarie Group company. Macquarie does not guarantee or otherwise provide assurance in respect of the obligations of Equinox.

The distribution of the 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.

Investors are reminded of the risks inherent in international investments, such as currency fluctuations and international stock market or economic conditions, which may adversely affect the value of the investment.

The offer for units in the Macquarie Equinox 6 Trust ("Equinox 6") is now closed.

Estimated performance information for Equinox 6 units as at month end December 2011 is as follows:

Fund Facts	Equinox 6 Trust	Equinox 6 Trust Class B
Portfolio NAV per Unit*	$0.9537	$0.2683
1 Month Return	-0.14%	-0.63%
Capital Protected Amount+	1.0313	$0.2858
Distribution++	$0.000	TBC
Profit Lock-ins+	$0.0313	N/A

Past performance is not a reliable indicator of future performance and should not be relied upon as a significant basis for an investment decision.

Definitions for Equinox 6 units

Total Return Index: an accumulation index of the Equinox Portfolio NAV per unit which assumes the reinvestment of Cash Distributions.

*The calculation of the official net asset value is suspended. The net asset value and portfolio performance (as shown above) are estimates and hence indicative only.

⁺ Capital Protection, Profit Lock-ins and Cash Distributions are subject to the terms and conditions of the Exposure Agreement as described in the Equinox 6 Product Disclosure Statement ("PDS").

⁺⁺ Distribution record date was 30 June 2008

^# Equinox 6 inception - July 2005

The information pertaining to investment performance of units set out above does not represent the prices payable on redemption or transfer. Redemption and transfer prices will be calculated in accordance with the methodology set out in the PDS.

The offer for units in the Macquarie Equinox Asia Trust ("Equinox Asia") is now closed.

Estimated performance information for Equinox Asia Trust units as at month end December 2011 is as follows:

Fund Facts	Equinox Asia Trust	Equinox Asia Trust Class B
Portfolio NAV per Unit*	$1.1012	$0.3275
1 Month Return	0.25%	-0.58%
Capital Protected Amount+	$1.0088	$0.0734
Distribution++	$0.0263	TBC
Profit Lock-ins+	$0.0088	N/A

Past performance is not a reliable indicator of future performance and should not be relied upon as a significant basis for an investment decision.

Definitions for Equinox Asia units

Total Return Index: an accumulation index of the Equinox Portfolio NAV per Unit which assumes the reinvestment of Cash Distributions.

* The calculation of the official net asset value is suspended. The net asset value and portfolio performance (as shown above) are estimates and hence indicative only.

⁺ Capital Protection, Profit Lock-ins and Cash Distributions are subject to the terms and conditions of the Exposure Agreement as described in the Equinox Asia Product Disclosure Statement ("PDS").

⁺⁺ Distribution record date was 30 June 2007. No distribution was payable for 30 June 2008.

^# Equinox Asia inception - December 2005

The information pertaining to investment performance of units set out above does not represent the prices payable on redemption or transfer. Redemption and transfer prices will be calculated in accordance with the methodology set out in the PDS.

Important amendment to Equinox Asia Trust and Equinox Asia 2 Trust June 30 2011 quarterly report data

Please note that incorrect data relating to the '% NAV in illiquid investments as at 30 June 2011' was reported in the Macquarie Equinox Trust Series June 2011 Quarterly Report for both Macquarie Equinox Asia Trust Class A and Macquarie Equinox Asia 2 Trust Class A only. The amounts reported in this report for June 30 2011 was representative of the % NAV in liquid investments as at 30 June 2011 , and therefore incorrect. The correct values are detailed as follows:

	Macquarie Equinox Asia Trust Class A	Macquarie Equinox Asia 2 Trust Class A
% NAV in illiquid investments as at 30 June 2011	9%	9%

We apologies for any inconvenience this may have caused. Further information will  be made available in the September 30 2011 Quarterly Report.

The offer for units in the Macquarie Equinox Asia 2 Trust ("Equinox Asia 2") is now closed.

Estimated performance information for Equinox Asia 2 Trust units as at month end December 2011 is as follows:

Fund Facts	Equinox Asia 2 Trust	Equinox Asia 2 Trust Class B
Portfolio NAV per Unit*	$1.0897	$0.2878
1 Month Return	0.19%	0.03%
Capital Protected Amount+	$1.0220	$0.0000
Distribution++	$0.0659	TBC
Profit Lock-ins+	$0.0220	N/A

Past performance is not a reliable indicator of future performance and should not be relied upon as a significant basis for an investment decision.

Definitions for Equinox Asia 2 units

Total Return Index: an accumulation index of the Equinox Portfolio NAV per unit which assumes the reinvestment of Cash Distributions.

* The calculation of the official net asset value is suspended. The net asset value and portfolio performance (as shown above) are estimates and hence indicative only.

⁺ Capital Protection, Profit Lock-ins and Cash Distributions are subject to the terms and conditions of the Exposure Agreement as described in the Equinox Asia 2 Product Disclosure Statement ("PDS").

⁺⁺ Distribution record date was 30 June 2007. No distribution was payable for 30 June 2008.

^# Equinox Asia 2 inception - April 2006

The information pertaining to investment performance of units set out above does not represent the prices payable on redemption or transfer. Redemption and transfer prices will be calculated in accordance with the methodology set out in the PDS.

Important amendment to Equinox Asia Trust and Equinox Asia 2 Trust June 30 2011 quarterly report data

Please note that incorrect data relating to the '% NAV in illiquid investments as at 30 June 2011' was reported in the Macquarie Equinox Trust Series June 2011 Quarterly Report for both Macquarie Equinox Asia Trust Class A and Macquarie Equinox Asia 2 Trust Class A only. The amounts reported in this report for June 30 2011 was representative of the % NAV in liquid investments as at 30 June 2011 , and therefore incorrect. The correct values are detailed as follows:

	Macquarie Equinox Asia Trust Class A	Macquarie Equinox Asia 2 Trust Class A
% NAV in illiquid investments as at 30 June 2011	9%	9%

We apologies for any inconvenience this may have caused. Further information will  be made available in the September 30 2011 Quarterly Report.

The offer for units in the Macquarie Equinox Select Opportunities Trust ("Equinox Select Opportunities") is closed.

Estimated performance information for Equinox Select Opportunities units as at month end December 2011 is as follows:

Fund Facts	Equinox Select Opportunities Trust	Equinox Select Opportunities Trust Class B
Portfolio NAV per Unit*	$0.8983	$0.6363
1 Month Return	-0.12%	-0.34%
Capital Protected Amount+	$1.0197	$0.7278
Distribution++	$0.0072	TBC
Profit Lock-ins+	$0.0197	N/A

Past performance is not a reliable indicator of future performance and should not be relied upon as a significant basis for an investment decision.

Definitions for Equinox Select Opportunities units

Total Return Index: an accumulation index of the Equinox Portfolio NAV per unit which assumes the reinvestment of Cash Distributions.

* The calculation of the official net asset value is suspended. The net asset value and portfolio performance (as shown above) are estimates and hence indicative only.

⁺ Capital Protection, Profit Lock-ins and Cash Distributions are subject to the terms and conditions of the Exposure Agreement as described in the Equinox Select Opportunities Product Disclosure Statement ("PDS").

⁺⁺ Distribution record date is 30 June 2008

^# Equinox Select Opportunities inception - July 2006

The information pertaining to investment performance of units set out above does not represent the prices payable on redemption or transfer. Redemption and transfer prices will be calculated in accordance with the methodology set out in the PDS.

Loan Interest Information Class A shares

Rate Type	Interest Rate
Quarterly Fixed Rate: 31 March 2010 to 30 June 2010	8.20% p.a.
Quarterly Floating Rate: 31 March 2010 to 30 June 2010	7.15% p.a.

Rate Type	Interest Rate	Direct Debit Date (Indicative)
Quarterly Fixed Rate: 31 March 2010 to 30 June 2010	7.95% p.a.	30 June 2010
Quarterly Floating Rate: 31 March 2010 to 30 June 2010	7.15% p.a.	30 June 2010

Loan Interest Information Class C shares

Rate Type	Interest Rate	Direct Debit Date (Indicative)
Annual Fixed Rate in Advance	7.85% p.a.	30 June 2010
Quarterly Fixed Rate: 31 March 2010 to 30 June 2010	8.25% p.a.	30 June 2010
Quarterly Floating Rate: 31 March 2010 to 30 June 2010	7.15% p.a.	30 June 2010

Loan Interest Information Class E shares

Rate Type	Interest Rate	Direct Debit Date (Indicative)
Quarterly Fixed Rate: 31 March 2010 to 30 June 2010	7.85% p.a.	30 June 2010
Quarterly Floating Rate: 31 March 2010 to 30 June 2010	7.15% p.a.	30 June 2010

Loan Interest Information Class F shares

Rate Type	Interest Rate	Direct Debit Date (Indicative)
Quarterly Fixed Rate: 31 March 2010 to 30 June 2010	7.99% p.a.	30 June 2010
Quarterly Floating Rate: 31 March 2010 to 30 June 2010	7.15% p.a.	30 June 2010

Loan Interest Information Equinox 6 units

Rate Type	Interest Rate	Direct Debit Date (Indicative)
Annual Fixed Rate in Advance	7.95% p.a.	30 June 2010
Quarterly Fixed Rate: 31 March 2010 to 30 June 2010	8.25% p.a	30 June 2010
Quarterly Floating Rate: 31 March 2010 to 30 June 2010	7.15% p.a.	30 June 2010

Loan Interest Information Equinox Asia units

Rate Type	Interest Rate	Direct Debit Date (Indicative)+
Annual Fixed Rate in Advance	7.50% p.a.	30 June 2010
Quarterly Floating Rate in Advance: 31 March 2010 to 30 June 2010	6.94% p.a.	31 March 2010
Quarterly Fixed Rate in Advance: 31 March 2010 to 30 June 2010	7.14% p.a.	31 March 2010

Loan Interest Information Equinox Asia 2 units

Rate Type	Interest Rate	Direct Debit Date (Indicative)+
Annual Fixed Rate in Advance	7.50% p.a.	30 June 2010
Quarterly Floating Rate in Advance: 31 March 2010 to 30 June 2010	6.94% p.a	31 March 2010
Quarterly Fixed Rate in Advance: 31 March 2010 to 30 June 2010	7.14% p.a.	31 March 2010

Loan Interest Information Equinox Select Opportunities units

Rate Type	Interest Rate	Direct Debit Date (Indicative)+
Annual Fixed Rate in Advance	7.75% p.a.	30 June 2009
Quarterly Floating Rate in Advance: 31 March 2010 to 30 June 2010	7.14% p.a.	31 March 2010
Quarterly Fixed Rate: 31 March 2010 to 30 June 2010	7.95% p.a.	31 March 2010
Interest Assistance Loan	7.75% p.a.	30 June 2010