Selector High Conviction Equity Fund

March 2022 Quarterly Newsletter

In this quarterly edition we review SFML performance, attribution, ESG and company results from reporting season. In our lead article, we provide a view on the macroeconomic backdrop while reiterating our investment philosophy. We then highlight the importance of maintaining reinvestment consistency and provide examples across the portfolio. Our investment philosophy is fleshed out further across a series of three short articles; “Three buckets - keeping things simple”; “Why point in time investing fails the test of time”; and “Surprises = normal”. We travel for the first time in two years and detail our trip to the U.S. visiting James Hardie Industries. We finish with ESG by reviewing Aristocrat Leisure’s 2021 sustainability report.

This update has been prepared by Selector Funds Management Limited (“Selector”) ACN 102 856 347 AFSL 225316 to provide you with general information only. In preparing this update, we do not take into account your investment objectives, financial situation or particular needs. It is not intended to take the place of professional advice and you should not take action in reliance on this information. Neither Selector, or any of its related parties, their employees or directors, provide a warranty of accuracy or reliability for this information or accept any liability to any person who relies on it. Past performance is not an indicator of future performance. Selector does not guarantee the repayment of capital, payment of income or performance. Unauthorised use, copying, distribution, transmitting, publication, display, or reproduction in whole or in part of the information contained in this material is prohibited without prior written consent from Selector.

Unauthorised use, copying, distribution, transmitting, publication, display, or reproduction in whole or in part of the information contained in this material is prohibited without prior written consent from Selector.