Navra Blue Chip Australian Share Retail Fund

Key Features

Both Australian funds achieve their investment objective through subscription for units in the underlying Navra Blue Chip Australian Share Income Fund ("Income Fund').

The Retail Fund and the Wholesale Fund are registered with ASIC under the Corporations Act as managed investment schemes and NavraInvest is the responsible entity and manager of these two funds. The Income Fund has been established as a separate unit trust. It is not required to be registered with ASIC under the Corporations Act. The trustee of the Income Fund is Navra Administrative Services Pty Ltd ACN 132 837 168 which is a wholly owned subsidiary of NavraInvest Limited. NavraInvest has been appointed as manager of the Income Fund.

The Wholesale Fund has a higher minimum entry level and lower fee structure than the Retail Fund. Adviser commissions, in the form of entry fees and trailing commissions are allowed for in the Retail Fund but not in the Wholesale Fund. No Savings Plan is offered in the Wholesale Fund. In all other aspects the Retail Fund and the Wholesale Fund are identical.

MINIMUM INVESTMENT
Minimum suggested investment term	5 years
Minimum initial application	$1,000 (note A)
Minimum additional application	$500
Savings Plan	$1,000 initially and at least $100 per month (note A)
Applications/Withdrawals	Daily dealing up to 3.00pm on any Business Day
Minimum withdrawal	$500
Minimum balance	$500
FEES AND CHARGES
NavraInvest fee	1.5375% per annum (note 3)
Entry fee	Up to 4.4% of your investment (note B)
Exit fee	Nil
Adviser trailing commission	0.44% paid by NavraInvest (note C)
Ongoing administration costs	Up to 0.3075% pa of the net asset value of the Fund (notes 1,2,4 and 5)
Buy spread	0.15%
Sell spread	0.15%
GENERAL
The responsible entity and manager	NavraInvest Limited
Investment exposure	Australian Blue Chip Shares in the S&P/ASX 200 Index and cash
Investment management style	Active, quantitative
Type of fund	Income
APIR Code	NAV0001AU
Financial Year End	JUNE 30
Distributions	Each calendar quarter

Notes
A.	The minimum application amounts include the entry fee (if any) payable to your adviser.
B.	The entry fee, if any is paid to your adviser. It is not retained by NavraInvest. Your adviser may choose to charge you less than 4.4%.
C.	The ongoing adviser trailing commission includes GST and is paid to your adviser by NavraInvest. It is not paid from the Fund.
D.	The minimum application, additional application and minimum withdrawal and balance requirements will not apply to IDPS products, master funds, wrap accounts and other similar investors.
1.	All fees take into account the amount of net GST payable by the Fund.
2.	The Fund benefits from the reduced input tax credits (RITCs) that the Fund is entitled to claim from the Australian Tax Office, equal to 75% of the GST component on the fee.
3.	Under the Constitution of the Fund, NavraInvest is entitled to charge either a management fee or a performance fee (but not both) and has elected to charge the management fee.
4.	Includes the costs of administering and promoting the Fund but does not include fees paid to NavraInvest for investment management services.
5.	For a more complete description of the fees and other costs, please refer to Fees and Other Costs on Page 12 in Navra Blue Chip Share Funds Product Disclosure Statement.

Fund Performance

In order to measure the investment performance of the Funds over any period of time, the sell unit prices are used at the beginning and the end of that time period. Distributions over the period (if any) are treated as reinvested.

No allowance is made in the calculation of the investment performance for entry fees or for taxation that you may pay on the distributions you receive.

Performance figures are for past performance only and have no bearing on future performance.

If you would like to see the performance for the Navra Funds over a selected time frame, please go to Performance Chart section. Should you wish to calculate the performance relevant to the time frame you have invested in the Fund, please go to Performance Calculator section.

NOTE: The minimum suggested investment term is 5 years.

	Year to date * as at 7 Feb 2012	Previous Financial Year #
Net fund return **	-5.57%	5.68%
Net distributed income^	0.00%	6.10%

* YTD return is calculated from 1 Jul 2011
^ The return is calculated up to financial year end 30 JUN 2011
** Absolute return net of fees
^ Net distributed income is measured as at the date of last distribution.

Performance Chart

Please select your choice from the dropdown boxes below.

Once the chart is visible, you can use your mouse and hover over the points to read the accumulative performance for the time frame selected.

Your selected chart will appear here.

Performance Calculator

To calculate the accumulative performance for a selected time frame, please select the time frame in the 'Start Date' and 'End Date' fields below.

Start Date:	(dd/mm/yyyy)*
End Date:	(dd/mm/yyyy)*

* format DD/MM/YYYY = 01/01/2010 (example when using 1 January 2010)

Unit Prices

as at	Application Price	Redemption Price
7 Feb 2012	0.6179	0.6161

Unit Price Calculation

Each investor acquires units in a Fund. Each unit has an equal value and the total of all units equals the value of all investments held by a Fund. Each unit has a dollar value which is calculated by adding the total value of the Funds' assets at the end of each day and adjusting for any liabilities to arrive at the net asset value of a Fund. The net asset value of a Fund is divided by the total number of units on issue on the same day. This results in the net asset value per unit.

The net asset value per unit will change each day as a result of changes in the value of the investments held by the Funds. The unit holding will only change if there is a transaction on an account such as an additional subscription, redemption or the reinvestment of a distribution.

Immediately after an income distribution the net asset value of the Funds fall by the same amount as the distribution. If you invest just prior to the distribution, the payment is a return on your investment. If you invest just after the distribution, the unit prices are correspondingly lower.

As new investors are allocated new units, additional investments are made, incurring transaction costs. Also, when investors redeem units, investments are sold, also incurring additional transaction costs. In order to avoid existing investors bearing the transaction costs for new investors and investors making redemptions, there is a "buy" unit price and a "sell" unit price quoted each day. The difference between the two prices is referred to as the "buy/sell spread".

The buy unit price is calculated by multiplying the net asset value per unit by 1.0015, while the sell unit price is calculated by multiplying the net asset value per unit by 0.9985. These differences from the net asset value per unit are retained by the Fund to meet the transaction costs referred to above and ensure equality between all investors.

Please note: the unit prices take account of management fee and administration costs accrued on a daily basis.

Download Historical Unit Prices

To download the history of the unit prices for a selected time frame, please select the time frame in the 'Start Date' and 'End Date' fields below.

Start Date:	(dd/mm/yyyy)*
End Date:	(dd/mm/yyyy)*

* format DD/MM/YYYY = 01/01/2010 (example when using 1 January 2010)

Distribution

(cents/unit)

%

distribution
component

Year 10/11

4.0751

6.10%

Sep 2010

1.5000

2.24%

Dec 2010

0.7500

1.11%

Mar 2011

0.7500

1.10%

Jun 2011

1.0751

1.54%

Year 09/10

6.3000

7.73%

Sep 2009

1.8000

2.49%

Dec 2009

2.0000

2.63%

Mar 2010

2.5000

3.28%

Year 08/09

3.0200

3.30%

Sep 2008

1.2500

1.41%

Jun 2009

1.7700

2.48%

Year 07/08

10.7491

8.70%

Sep 2007

2.8000

2.50%

Dec 2007

3.4000

3.00%

Mar 2008

2.0000

1.85%

Jun 2008

2.5491

2.69%

Year 06/07

19.2200

18.53%

Sep 2006

2.2000

2.00%

Dec 2006

3.3000

3.06%

Mar 2007

4.5000

4.00%

Jun 2007

9.2200

8.03%

Year 05/06

17.7278

17.24%

Sep 2005

5.8000

5.40%

Dec 2005

2.7000

2.40%

Mar 2006

3.5000

3.17%

Jun 2006

5.7278

5.11%

Year 04/05

15.6093

16.17%

Sep 2004

3.2620

3.23%

Dec 2004

3.4000

3.27%

Mar 2005

4.2000

3.72%

Jun 2005

4.7473

4.37%

Year 03/04

9.9842

10.58%

Sep 2003

3.2000

3.24%

Dec 2003

2.9981

2.97%

Mar 2004

2.2408

2.26%

Jun 2004

1.5453

1.55%

The Funds receive income by way of distributions from the underlying Income Fund. The Income Fund receives its income from share dividends, interest from cash income and net realised capital gains from selling shares. The total of all income received in the Funds, net of fund expenses (the management fee), will be distributed to investors each financial year.

Net income is distributed quarterly based on the number of units the investor holds in proportion to the number of units held by all unit holders, at the distribution date. Distributions are not pro-rated for investors who were not unit holders for the whole quarter.

Immediately after an income distribution the net asset value of the Funds fall by the same amount as the distribution. If you invest just after the distribution, the unit prices are correspondingly lower.

Distributions are calculated on the last day of the last month in each quarter and are normally paid within 14 days.

Please note that each quarterly distribution expressed as a percentage is a derived calculation, and therefore each quarterly percentage return cannot be added to determine the YTD percentage return.

How To Invest

Direct Investors:

You can invest directly in the Navra Blue Chip Share Funds by reading the Product Disclosure Statement (PDS), completing the application form and sending this into us.

Investors in Master Trusts, Wrap Accounts and/or IDPS operated administration platforms:

You can invest in the Navra Blue Chip Australian Share Wholesale Fund via an administration Platform. The application form will exist on your Master Trust, Wrap account or IDPS Platform. We recommend you consult your financial adviser, should you wish to use these options.

Please select the PDS (Product Disclosure Statement) tab above.

If an electronic copy of the PDS is being printed, all pages including the application forms must be printed. If a PDS is being made available to another person, it must be provided with the entire electronic file or printout, including the application form. An original copy of a PDS (and any supplementary documents) can also be obtained, free of charge, by calling us on 1300 656 131 or by contacting your financial adviser.

Product Disclosure Statement & Product Notice