TI Explicit Alpha Fund

Latest Fund unit prices, distribution and year-end pricing information is available on the Funds page.

Performance

The following table summarises the total return of the TI Explicit Alpha Fund since inception (25 July 2006) and the return of global shares in Australian dollar terms. Returns are shown after deducting fees.

Periods to 28 February 2010

	1 Month	3 Months	12 Months	3 Years	Since Inception
TI Explicit Alpha Fund	-0.07%	-3.55%	+7.81%	-10.87%	-6.97%
Global shares ($A terms)	+0.13%	+0.84%	+10.61%	-10.64%	-6.50%

Notes:
1. Historical total returns include realised and unrealised gains and losses and income. They are time-weighted rates of return that account for all external cash flows.

2. For periods exceeding one year returns of the Fund and the benchmark are annualised.

3. Fund size as at 28 February 2010 $19.3 million.

Unit Price History

Date	Application Price	Net Asset Value	Redemption Price	Distribution
28 Feb 2010	$0.7394	$0.7372	$0.7350
31 Jan 2010	$0.7399	$0.7377	$0.7355
31 Dec 2009	$0.7780	$0.7757	$0.7733
30 Nov 2009	$0.7666	$0.7643	$0.7620
31 Oct 2009	$0.7251	$0.7229	$0.7207
30 Sep 2009	$0.7512	$0.7490	$0.7467
31 Aug 2009	$0.7581	$0.7559	$0.7536
31 Jul 2009	$0.7742	$0.7420	$0.7398
30 Jun 2009 Post-distribution	$0.7331	$0.7309	$0.7287	$0.029942
30 Jun 2009 Pre-distribution	$0.7073	$0.7052	$0.7031
31 May 2009	$0.7482	$0.7459	$0.7437
30 Apr 2009	$0.7534	$0.7512	$0.7489
31 Mar 2009	$0.7175	$0.7154	$0.7132
28 Feb 2009	$0.7108	$0.7087	$0.7065
31 Jan 2009	$0.8006	$0.7982	$0.7958
31 Dec 2008	$0.8178	$0.8153	$0.8129
30 Nov 2008	$0.8338	$0.8313	$0.8288
31 Oct 2008	$0.8857	$0.8831	$0.8804
30 Sep 2008	$0.9248	$0.9220	$0.9193
31 Jul 2008	$0.8592	$0.8567	$0.8541
31 Jul 2008	$0.8592	$0.8567	$0.8541
30 Jun 2008 Post-distribution	$0.8581	$0.8555	$0.8530	Nil
30 Jun 2008 Pre-distribution	$0.8581	$0.8555	$0.8530
31 May 2008	$0.9339	$0.9312	$0.9284
30 Apr 2008	$0.9454	$0.9425	$0.9397
31 Mar 2008	$0.9429	$0.9401	$0.9373
29 Feb 2008	$0.9206	$0.9179	$0.9151
31 Jan 2008	$0.9602	$0.9574	$0.9545
31 Dec 2007	$1.0559	$1.0527	$1.0496
30 Nov 2007	$1.0570	$1.0538	$1.0507
31 Oct 2007	$1.0597	$1.0565	$1.0533
30 Sep 2007	$1.0740	$1.0708	$1.0676
31 Aug 2007	$1.1049	$1.1016	$1.0983
31 Jul 2007	$1.0368	$1.0337	$1.0306
30 Jun 2007 Post-distribution	$1.0791	$1.0759	$1.0727	$0.0097
30 Jun 2007 Pre-distribution	$1.0888	$1.0856	$1.0823
31 May 2007	$1.1314	$1.1280	$1.1247
30 Apr 2007	$1.0950	$1.0917	$1.0884
31 Mar 2007	$1.0834	$1.0801	$1.0769
28 Feb 2007	$1.0922	$1.0889	$1.0856
31 Jan 2007	$1.1372	$1.1338	$1.1304
31 Dec 2006	$1.1088	$1.1055	$1.1021
30 Nov 2006	$1.0915	$1.0883	$1.0850
31 Oct 2006	$1.0684	$1.0652	$1.0620
30 Sep 2006	$1.0593	$1.0561	$1.0529
31 Aug 2006	$1.0299	$1.0268	$1.0238
31 Jul 2006	$1.0054	$1.0024	$0.9994
25 Jul 2006	$1.0030	$1.0000	$0.9970

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TI Explicit Alpha Fund