Macquarie International Infrastructure Securities Fund

Important information

Macquarie Investment Management Limited (ABN 66 002 867 003, AFSL 237 492) (Macquarie) is the issuer of units in the Macquarie International Infrastructure Securities Fund (the Fund). Investors should consider the Product Disclosure Statements (PDS) relating to the Fund in deciding whether to acquire or continue to hold units in the Fund. The PDS is available from www.macquarie.com.au/pds or by calling 1800 814 523. The above information is not personal advice and does not take into account the investment objectives, financial situation or needs of any person. Before making any investment decision, investors should consider the appropriateness of the information based on their own circumstances or consult a professional adviser.

Investments in the Fund are not deposits with or other liabilities of Macquarie Bank Limited or of any other Macquarie Group entity and are subject to investment risk, including possible delays in repayment and loss of income and capital invested. Neither Macquarie Bank Limited nor any other member of the Macquarie Group guarantee any particular rate of return or the performance of the Fund, nor do they guarantee the repayment of capital from the Fund.

Past performance of any product described on this site is not a reliable indication of future performance.

+ The Zenith Investment Partners (Zenith) ABN 60 322 047 314 rating 'Recommended' (Feb 2010) referred to in this document is limited to General Advice (as defined by section 766B of Corporations Act 2001) and based solely on the assessment of the investment merits of the financial product on this basis. It is not a specific recommendation to purchase, sell or hold the relevant product(s), and Zenith advises that individual investors should seek their own independent financial advice before investing in this product. The rating is subject to change without notice and Zenith has no obligation to update this document following publication. Zenith usually receives a fee for rating the fund manager and product against accepted criteria considered comprehensive and objective.

# To the extent that any ratings, opinions or other information of Standard & Poor's Information Services (Australia) Pty Ltd (ABN: 17 096 167 556, Australian Financial Services Licence Number: 258896) ("Standard & Poor's") constitutes general advice, this advice has been prepared by Standard & Poor's without taking into account any particular person's financial or investment objectives, financial situation or needs. Before acting on any advice, any person using the advice should consider its appropriateness having regard to their own or their clients' objectives, financial situation and needs. You should obtain a Product Disclosure Statement relating to the product and consider the statement before making any decision or recommendation about whether to acquire the product. Past performance is not a reliable indicator of future performance. Ratings can change or cease at any time and should not be relied upon without referring to the meaning of the rating. For more information regarding ratings please call S&P Customer Service on 1300 792 553 and also refer to Standard & Poor's Financial Services Guide at www.fundsinsights.com. Each analytic product or service of Standard & Poor's is based on information received by the analytic group responsible for such product or service. "S&P" and "Standard & Poor's" are trademarks of The McGraw-Hill Companies, Inc. © 2010 Standard & Poor's Information Services (Australia) Pty Limited.

^ The Lonsec Limited (“Lonsec”) ABN 56 061 751 102 rating (assigned August 2009) presented in this document is limited to “General Advice” and based solely on consideration of the investment merits of the financial product(s). It is not a recommendation to purchase, sell or hold the relevant product(s), and you should seek independent financial advice before investing in this product(s). The rating is subject to change without notice and Lonsec assumes no obligation to update this document following publication. Lonsec receives a fee from the fund manager for rating the product(s) using comprehensive and objective criteria.

* SQM Research has no involvement in this fund or any of the organisations contained in the product disclosure statement. This assessment has been undertaken by SQM Research on an independent basis and does not constitute an investment recommendation. It is designed to provide investment advisers with a third party view of the quality of this fund, as an investment option.