Key Business Relationships

Bell Group Holdings Limited

Bell Group Holdings Limited is the majority shareholder of Bell Asset Management Limited. Bell Group Holdings is a privately owned company which also has a significant interest in Bell Financial Group (BFG) which encompasses Bell Potter Securities, Bell Potter Capital, Bell Commodities, Bell FX and Southern Cross Equities. BFG also holds a significant interest in Bell Direct Limited.

Bell Asset Management USA Inc.

Bell Asset Management USA Inc. is a Delaware corporation that is wholly owned by Bell Asset Management Limited. Bell Asset Management USA Inc. is the Manager of the Bell Australia Trust and the Bell International Trust.

Bridgewater Associates, LP

The Responsible Entity has under an Investment Management Agreement appointed Bridgewater Associates, LP as the Investment Manager for Bridgewater Pure Alpha Fund (Australia) and Bridgewater All Weather Fund (Australia). Bridgewater Associates, LP is a global investment manager with US$75 billion in assets under management. Based in Westport, Connecticut, Bridgewater was founded in 1975. Bridgewater manages portfolios for institutional clients, including pension funds, endowments, foundations, foreign governments and central banks. Bridgewater currently has over 850 employees.

Global Mining Investments Limited

Global Mining Investments Limited (GMI) is an ASX listed investment company that invests in a diversified portfolio of global metal and mining companies. Bell Asset Management (BAM) has been appointed as Manager of Global Mining Investments. In this role BAM is responsible for the accounting, registry, administration and marketing for GMI (some of these functions are outsourced to third parties).

BlackRock Investment Management (UK) Limited

BlackRock Investment Management (UK) Limited has been appointed as the Investment Manager of Global Mining Investments. The London based natural resources team of BlackRock is responsible for all investment decisions relating to the GMI portfolio. This team manages over US$30bn of assets, including the world’s largest Gold Fund and the largest World Mining fund, and has been AAA rated manager by Forsyth Partners and by S&P.

Bell Asset Management