Macquarie Instalments - Making SMSF gearing easy

Instalments are an attractive investment proposition for share investors, especially via Self-Managed-Super-Funds, as they enable you to:

• Leverage into growth investments, ie shares
• Earn more dividend income - entitlement to the benefits of dividends and franking credits
• Use excess franking credits to reduce tax^#
• Participate in capital movements of the underlying share

In addition to these benefits, there are no margin calls, so fluctuations in share prices during the course of the year will not result in you being asked to provide additional cash or collateral to meet margin requirements. Instalments are also listed on the ASX so the fund can sell them easily.

Instalments are an easy solution for investors to borrow to buy shares. With one part payment up front, no loan application forms, no messy administration and no margin calls, Instalments make borrowing to invest easy. You pay a fraction of the portfolio value as a first instalment and choose a gearing level that suits you, generally between 40% – 95%.

Reduced Brokerage Offer

Any client that invests in Macquarie instalments before 15th September 2006 will get the added benefit of reduced brokerage from the usual 3% down to 1%.

Click here for more information and to request a Product Disclosure Statement (PDS).

AMP Capital Investors Global Property Securities Fund

The AMP Capital Global Property Securities Fund gives investors access to property securities listed on share markets around the world. Through a single fund, the AMP Capital Global Property Securities Fund provides access to property investment opportunities that may otherwise be difficult to obtain.

The Fund aims to generate medium to high returns over the long term by investing in listed property trusts in Australia, and Real Estate Investment Trusts (REITs) and property securities companies in North America, Europe and Asia.

AMP Capital Global Property Securities Fund has delivered 28.82%p.a.^{^} – after fees – since inception three years ago. Fully hedged, it has minimal exchange rate exposure.

You can potentially increase your returns by borrowing to invest. Macquarie Margin Lending have approved the Global Property Securities Fund with an LVR of 65%.

Click here for more information and to request a Product Disclosure Statement (PDS).

^# Tax outcomes depend on individual investors’ circumstances and current tax laws which may vary. Seek your own professional tax advice before investing.
^{^} Source: AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232 497) (“AMP Capital”). Fund returns shown are as at 28.6.06 and are before tax, after fees and assume income is reinvested. From inception (30.09.02) to 10.04.06, Private Clients class units were unavailable, so for that period performance has been calculated by adjusting returns for the Fund’s initial unit class to reflect fee differences (Private Clients class units management costs - 1.2716% p.a.). Actual performance is shown after 10.4.06. Past performance is not a reliable indicator of future performance.

Macquarie Self Funding Instalments are offered by Macquarie Bank Limited (ABN 46 008 583 542). Applications may only be made on receipt of the Application Form included in or accompanying the relevant Product Disclosure Statement (PDS). Copies of the PDS may be obtained free of charge from InvestSMART. Neither InvestSMART or Macquarie Bank have taken account of your objectives, financial situation or needs. You should read the PDS before making any investment decision regarding Macquarie Instalments. We recommend you obtain financial , legal and taxation advice before making any financial investment decision. Macquarie will receive remuneration from the issue of the Self Funding Instalments by way of the holders put option and the loan. Macquarie will pay commission to introducing advisers (including related entities of Macquarie). The amount of remuneration and commission are more fully described in the PDS. In relation to the incorporation of past performance, it must be remembered that past performance is not a reliable indication of future performance.

IMPORTANT : InvestSMART Financial Services Pty Ltd makes no recommendations as to the merits of any investment opportunity referred to in this email or its related websites. Before making any investment decision on the basis of any reports or information provided you must read the disclosure document and make your own investigations regarding the accuracy, reliability and completeness of this information. This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person. All indications of performance returns are historical and can not be relied upon as an indicator for future performance.