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Lonsec awards Allcaps "highly recommended" rating

We are pleased to announce that the Ironbark Karara Australian Share Fund (‘Fund’) has recently been awarded the ‘Highly Recommended’ rating by Lonsec*.

As stated in the Lonsec research report, “Lonsec considers Karara to have several appealing features. The key attraction is the Manager’s high quality and experienced investment team. The team demonstrates sound investment logic to deliver a patient, relatively conservative investment strategy. Moreover, Karara’s current FUM levels allow the portfolio to remain nimble (and yet alleviates business risk). Lonsec also notes that the team displays strong alignment of interest by way of a high level of ownership in Karara.”

*The Lonsec Rating (assigned September 2013) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421445. The Rating is a “class service” (as defined in the Financial Advisers Act 2008 (NZ)) or is limited to “General Advice” and based solely on consideration of the investment merits of the financial product(s). In New Zealand it must only be provided to “wholesale clients” (as defined in the Financial Advisers Act 2008 (NZ)). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Ironbark Asset Management product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria. For further information regarding Lonsec’s Ratings methodology, please refer to our website at: www.lonsec.com.au/aspx/Public/Documents/Ratings%20Definitions.pdf