LM First Mortgage Income Fund

In 1999, LM established what has been recognised as Australia’s number one performing income fund by Personal Investor Magazine in 2001 and 2002. The LM First Mortgage Income Fund provides a consistent income component in an investment portfolio.

Fund Objective

To provide investors with competitive monthly income balanced with a high degree of capital security and low volatility. As the Manager we achieve this by being extremely selective in our management of the investments of the LM First Mortgage Income Fund. The assets consist of a diversified "pool" of registered first mortgages, cash and "at call" securities

About the fund

The LM First Mortgage Income Fund was ranked 'best’ in the sector of Australian Mortgages for 2003 in Australian Financial Review, December 17, 2003.

Investment performance and choice

The choice of investment options ensures that the investment is tailored to the investors' needs.

Investments can be made in the fixed terms: 3, 6, 9, 12, 24, 36 or 48 months.

At the expiration of the fixed term, investments are automatically rolled over into a further fixed term of the same length, unless 30 days prior written notice is given to withdraw or change to a different fixed term.

Currently paying up to 9.50% effective rate in AUD. Alternate rates hedged in all major currencies

Attributes of the LM First Mortgage Income Fund

• Competitive consistent income
• A low risk, capital secure investment
• Flexibility to choose investment terms to meet personal time frames
• Low volatility and capital stability
• Income assurance
• Monthly or quarterly income
• Australian based assets

Distribution frequency

Distributions are calculated on the last day of each month and are paid within 14 days after the end of the month or can be paid quarterly. Distributions may either be reinvested or paid by direct credit to a nominated financial institution account (as nominated on the investor's application form).

Distributions are made according to investor instructions. If no instructions are given, distributions are automatically reinvested

Minimum invest ment is AUD10,000

Invest through ^{investoffshoredirect.com} the initial charge is reduced

E-mail us now to get prospectus and fact sheet for this fund