Investment objective The Fund aims to earn an after-fee return in excess of the Benchmark over rolling three-year periods.

Performance (%) Fund details

1 mth 3 mths 1 yr 3 yrs pa 5 yrs pa Inception date June 2007 Fund (net) 1.09 9.22 17.05 8.59 3.39 S&P/ASX Small Ordinaries Benchmark Benchmark 1.56 3.68 16.62 11.39 10.81 Accumulation Index ISIN AU60SSB00116 Calendar year performance (%) APIR SSB0011AU 2018 2017 2016 2015 2014 Distributions Semi-annual Fund (net) -14.28 16.65 0.09 -3.02 -4.98 Management fee 1.10% Benchmark -8.67 20.02 13.18 10.16 -3.81 Performance fee Yes (see PDS) Buy/sell spread 0.30% / 0.30% Suggested investment Investment growth Five years timeframe (minimum) 5 year growth of $10,000 Unit price Daily $17,000 $16,000 $15,000 $14,000 Fund statistics $13,000 Fund size ($m) 9.38 $12,000 Month end NAV 1.06398 $11,000 $10,000 Number of holdings 56 $9,000 Percentage of top 10 holdings (% ) 32.15 $8,000 Weighted average market cap ($B) 1.63 $7,000 Weighted median market cap ($B) 0.89

Fund Benchmark

Top 10 sectors (%) Market capitalisation breakdown (%)

Consumer Discretionary 21.12 Real Estate 7.82 0-3 ($B) 85.45 Materials 14.37 Consumer Staples 5.30 3-10 ($B) 14.55 Information Technology 13.48 Health Care 4.59 Industrials 13.06 Energy 4.56 Financials 12.28 Communication Services 2.06

Top 10 holdings 3-year risk statistics (annualised) NextDC Ltd Sealink Travel Group Sharpe ratio 0.64 Ltd EML Payments Ltd. Tracking error (% ) 4.95 IRESS Ltd Imdex Limited Ord Information ratio -0.56 Independance Group Ltd Group Ltd. R squared 0.81 Ingenia Communities Group Ama Group Limited Standard deviation (% ) 10.79

Past performance is not a reliable indicator of future performance.

Highlights · Invests in Australian listed securities that are outside the largest 100 companies as measured by market capitalisation · Aims to exploit the inefficiencies inherent in this market segment due to liquidity, volatility and lack of broad research coverage · Diversified style attributes designed to capture returns in all market conditions

About us Legg Mason Guided by a mission of Investing to Improve LivesTM, Legg Mason helps investors globally achieve better financial outcomes by expanding choice across investment strategies, vehicles and investor access through independent investment managers with diverse expertise in equity, fixed income, alternative and liquidity investments. Legg Mason has won the Fund Manager of the Year in 2015, 2017 and 2018.

Martin Currie Martin Currie, our global equity specialist manager, has had a presence in since 1954. Today Martin Currie is a leading provider of active equity solutions in Australia, managing a growing suite of equity, multi-sector and tailored strategies across a common investment research platform.

Meet the team Martin Currie’s investment process draws on a wide range of proprietary fundamental and quantitative research metrics. The Fund benefits from the close collaboration of the well- resourced and experienced team that includes Shane Livingstone and Anthony Porto.

Shane Livingstone, CFA Anthony Porto Portfolio Manager Portfolio Manager With firm since 1982 With firm since 2015

For enquiries, please contact Client Services team on 1800 679 541, email [email protected] or visit leggmason.com.au.

Past performance is not a reliable indicator of future performance. Legg Mason Asset Management Australia Ltd (ABN 76 004 835 849 AFSL 240827) is part of the Global Legg Mason Inc. group. Any reference to ‘Legg Mason Australia’ or ‘Martin Currie Australia’ is a reference to Legg Mason Asset Management Australia Limited. ‘Martin Currie Australia’ is a division within Legg Mason Asset Management Australia Limited. Legg Mason Australia is the responsible entity of the Legg Mason Martin Currie Small Companies Fund (ARSN 119 829 560) (Fund). Martin Currie Australia is the fund manager of the Fund. Before making an investment decision you should read the Product Disclosure Statement (PDS) for the Fund carefully and you need to consider, with or without the assistance of a financial advisor, whether such an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. The PDS is available and can be obtained by contacting Legg Mason Australia on 1800 679 541 or at www.leggmason.com.au. This product has not been prepared to take into account the investment objectives, financial objectives or particular needs of any particular person. Neither Legg Mason Australia, nor any of its related parties guarantees any performance or the return of capital invested. Past performance is not necessarily indicative of future performance. Investments are subject to risks, including, but not limited to, possible delays in payments and loss of income or capital invested. These opinions are subject to change without notice and do not constitute investment advice or recommendation. 2019 FE Money Management. All rights reserved. The information, data, analyses, and opinions contained herein (1) include the proprietary information of FE Money Management and Lonsec (2) may not be copied or redistributed (3) do not constitute investment advice offered by FE Money Management or Lonsec (4) are provided solely for informational purposes and therefore are not an offer to buy or sell a security (5) are not warranted to be correct, complete, or accurate. FE Money Management and Lonsec shall not be responsible for any trading decisions, damages, or other losses resulting from, or related to, this information, data, analyses, or opinions or their use. FE Money Management and Lonsec does not guarantee that a fund will perform in line with its Fund Manager of the Year award as it reflects past performance only. Likewise, the Fund Manager of the Year award should not be any sort of guarantee or assessment of the creditworthiness of a fund or of its underlying securities and should not be used as the sole basis for making any investment decision.