All Star Ratings

As at 31 October 2011

	Quantitative	Qualitative
All Star IAM Australian Share Fund	Morningstar	Recommended

All Star KFM Income Fund	Morningstar

All Star China Nomura Fund		Investment Grade
All Star China Nomura Fund		Recommended

All Star Maple-Brown Abbott Listed Property Fund		Investment Grade
All Star Maple-Brown Abbott Listed Property Fund		Recommended

Disclaimers

LONSEC*
*The Lonsec Limited ("Lonsec") ABN 56 061 751 102 ratings (assigned: All Star Nomura China Fund - June 2010; All Star MBA Listed Property Fund - March 2011) presented in this document are limited to "General Advice" and based solely on consideration of the investment merits of the financial products. They are not a recommendation to purchase, sell or hold the relevant products, and you should seek independent financial advice before investing in these products. The ratings are subject to change without notice and Lonsec assumes no obligation to update the relevant documents following publication. Lonsec receives a fee from the fund manager for researching the products using comprehensive and objective criteria.

The Zenith Investment Partners ("Zenith")
ABN 60 322 047 314 rating (assigned ) 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.