The Board of directors is responsible for guiding and monitoring the Fund on investor's behalf. A number of Board Committees in the key areas of corporate governance have been established to ensure the Fund is effectively directed and managed; risks are monitored and assessed by these committees.

Below is a summary of the corporate governance structure

Corporate Governance Stucture

A formal Investment Policy has been adopted by the Board of Directors. This policy contains measures that Adelaide Managed Funds will follow prior to the acquisition or disposal of investments in the future. This policy includes guidelines for the identification, analysis and ultimate approval of potential investments, which the Investment Team must follow when making recommendations in relation to investments. The following diagram provides a summary of this process for any acquisition. A similar process will be undertaken for any sale.

Investment Policy

Adelaide Managed Funds Limited (ABN 81 062 274 533, AFSL 240517) as responsible entity for the Adelaide Managed Funds Asset Backed Yield Trust (ARSN 120 038 002).

This information has been prepared by Adelaide Managed Funds Limited, without taking account of any person's objectives, financial situation or needs. Adelaide Managed Funds recommends that you should, before acting on this information, consider the appropriateness of the information having regard to your own objectives, financial situation and needs and read the Product Disclosure Statement for this product. Adelaide Managed Funds recommends that you obtain your own independent professional advice on the risks and suitability of this product. Past performance is not a reliable indicator of future performance.