Investment Products

Antares Fixed Income manages client monies across a broad spectrum of fixed income sectors. These strategies can be accessed via a discrete mandate, a pooled vehicle or both.

Cash ($4.43 billion)

• Core low risk Australian cash strategy
• Strong focus on capital preservation
• High liquidity
• Benchmark: UBS Bank Bill Index

Enhanced Cash ($1.65 billion)

• Utilise diversified return seeking strategies
• Exploit structurally attractive opportunities at front end of the yield curve
• Excess return target (35 basis points p.a), Risk (15-30 basis points p.a)
• Benchmark: UBS Bank Bill Index

Short Duration - Fixed Interest ($2.55 billion)

• Focus on income generation and capital preservation
• Exploit structurally attractive opportunities at front/mid part of the yield curve
• Excess return target (25-35 basis points p.a), Risk (15-25 basis points p.a)
• Benchmarks: UBS 0-3 years or 0-5 years Composite Index

Long Duration - Index Enhanced Fixed Interest ($0.15 billion)

• Utilise diversified return seeking strategies
• Yield Curve positioning across broad market a key source of value add
• Risk tightly controlled with focus on capital preservation and income
• Excess return target (20-30 basis points p.a), Risk (10-20 basis points p.a)
• Benchmark: UBS All Maturities Composite Index

Long Duration – Core Fixed Interest ($2.08 billion)

• Diversified fixed interest strategies
• Credit Overlay utilised
• Excess return target (25-75 basis points p.a), Risk (20-70 basis points p.a)
• Benchmark: UBS All Maturities Composite Index

Australian Inflation Linked Bonds ($1.26 billion)

• Focus on the trade-off between real and nominal bonds
• Long experience with asset class
• Provide a hedge against Australian inflation
• Excess return target (25-75 basis points p.a), Risk (20-70 basis points p.a)
• Benchmark: UBS All Inflation Index

Asset / Liability Management ($3.32 billion)

• Immunising liabilities by matching key risks (cashflows, duration, convexity) with fixed income and/or inflation linked assets across all term structures
• Liability profile matching is first objective with the option to use return seeking strategies
• Proprietary modelling software enables appropriate assets and derivatives to be matched to key liability risks
• Benchmark: Liability aware and determined by client

Note: FUM as at 31 August 2010

INFORMATION MEMORANDUM (IM)

For further information on the Antares Fixed Income Information Memorandum please contact:

Stephen Fallet
Senior Business Development Manager - Institutional Distribution
Level 1, 330 Collins St, Melbourne VIC 3000
Direct:  +613 8634 1361
Mobile: +61 (0)438 544 137
Email: stephen.fallet@antarescapital.com.au

Simon Blanchflower
General Manager - Institutional Distribution
Level 8, 37 Pitt Street, Sydney NSW 2000
Direct:  +612 8274 4835
Mobile: +61 (0)421 616 755
Email: simon.blanchflower@antarescapital.com.au