AMP CAPITAL ETHICAL LEADERS BALANCED FUND HOLDINGS AS AT 30 JUNE 2019 The AMP Capital Responsible Leaders (Ethical Leaders) Fund range has a very clear mission – to invest for the long term while making the world a better place. We do this by including companies we believe demonstrate a positive impact on environmental, social and governance (ESG) issues. It also means ruling out companies making significant money – more than 10% of their revenue – from industries we believe have a negative impact. You may see some stocks on this list that, at first glance, appear at odds with our mission. That’s because investing is not always black and white. We work tirelessly to weigh up the consequences of every investment decision we make and are often faced with investing in the lesser of two evils, rather than simply between good and evil. We therefore include some companies in our portfolios that we believe are at the better end of the spectrum in terms of their ESG impact, rather than excluding them altogether. Additionally, by securing a ‘seat at the table’ of these companies, we have an opportunity to lobby for and influence reform in their policies and practices. As an example, our approach to energy resources shows where we might face this conundrum. Though we apply our 10% threshold rule, and do not invest in companies that facilitate intensive fossil fuel emissions, we also acknowledge that at this stage it is not practical to completely divest from all oil and gas companies. So, while we continue to ramp up our investment in companies that support the transition to renewables, we may invest in some energy and resource companies from time to time. Furthermore, by meeting with executive and boards of the companies we invest in, we can ask them to do things differently on our clients’ behalf. We can ask banks to improve their responsible lending standards and ask retailers to publish their supply chains and pay factory workers a living wage. We believe these approaches provide the most practical and effective way of facilitating change and help ensure we make the most positive impact wherever we can. Australian Shares A2 MILK COMPANY AFTERPAY TOUCH GROUP ALS LIMITED ALTIUM LTD ANSELL LTD APA GROUP APPEN LIMITED ARB CORPORATION ARDENT LEISURE GROUP ASX LTD ATLAS ARTERIA AURIZON HOLDINGS LTD AUSNET SERVICES LTD AUSTRALIA & NEW ZEALAND BNKING GRP LTD AUSTRALIAN PHARMACEUTICAL INDUSTRIE BANK OF QUEENSLAND LTD BEACH ENERGY LTD BELLAMY'S AUSTRALIA LTD BENDIGO AND ADELAIDE BANK LTD BHP GROUP LTD BINGO INDUSTRIES LIMITED BLACKMORES LTD BLUESCOPE STEEL LTD BORAL LTD BRAMBLES LTD BREVILLE GROUP LTD BWP TRUST CALTEX AUSTRALIA LTD CHARTER HALL GROUP CHARTER HALL RETAIL REIT CHORUS LTD CLEANAWAY WASTE MANAGEMENT LTD CLINUVEL PHARMACEUTICALS LTD COCHLEAR LTD COLES GROUP LTD COMMONWEALTH BANK OF AUSTRALIA COMPUTERSHARE LTD CORPORATE TRAVEL MANAGEMENT LTD CROMWELL PROPERTY GROUP CSL LTD CSR LTD CYBG PLC DEXUS DOMAIN HOLDINGS AUSTRALIA PTY LTD DOWNER EDI LTD DULUXGROUP LTD ECLIPX GROUP LIMITED ELDERS LTD ESTIA HEALTH LIMITED EVOLUTION MINING LTD FISHER & PAYKEL HEALTHCARE CORP LTD FLETCHER BUILDING LTD FLIGHT CENTRE TRAVEL GROUP LTD FORTESCUE METALS GROUP LTD FREEDOM FOODS GROUP LIMITED GOODMAN GROUP PTY LTD GPT GROUP GROWTHPOINT PROPERTIES AUSTRALIA LTD GUD HOLDINGS LTD GWA GROUP LTD IDP EDUCATION LIMITED ILUKA RESOURCES LTD INCITEC PIVOT LTD INSURANCE AUSTRALIA GROUP LTD INVOCARE LTD IPH LIMITED IRESS LIMITED JAMES HARDIE INDUSTRIES PLC JANUS HENDERSON GROUP PLC JB HI-FI LTD LENDLEASE GROUP LINK ADMINISTRATION HOLDINGS LIMITED MACQUARIE GROUP LTD MAGELLAN FINANCIAL GROUP LTD MAYNE PHARMA GROUP LTD MCMILLAN SHAKESPEARE LTD MEDIBANK PRIVATE LIMITED MIRVAC GROUP MONADELPHOUS GROUP LTD NANOSONICS LTD NATIONAL AUSTRALIA BANK LTD NATIONAL STORAGE REIT NEARMAP LTD NEXTDC LTD NIB HOLDINGS LTD NINE ENTERTAINMENT NORTHERN STAR RESOURCES LTD NRW HOLDINGS LTD OIL SEARCH LTD OOH MEDIA LIMITED ORICA LTD ORORA LTD OZ MINERALS LTD PENDAL GROUP LTD PERPETUAL LTD PINNACLE INVESTMENT MANAGEMENT GRP LTD PLATINUM INVESTMENT MANAGEMENT LTD PREMIER INVESTMENTS LTD QANTAS AIRWAYS LTD QBE INSURANCE GROUP LTD RAMSAY HEALTH CARE LTD REA GROUP LTD RELIANCE WORLDWIDE CORPORATION LIMITED RESMED INC RIO TINTO LIMITED SANDFIRE RESOURCES NL SANTOS LTD SCA PROPERTY GROUP SCENTRE GROUP SEEK LTD SERVICE STREAM LIMITED SEVEN GROUP HOLDINGS LTD SIGMA HEALTHCARE LIMITED SIMS METAL MANAGEMENT LTD SMARTGROUP CORPORATION LTD SONIC HEALTHCARE LTD SOUTHERN CROSS MEDIA GROUP LTD SPARK INFRASTRUCTURE GROUP SPARK NEW ZEALAND LTD SPEEDCAST INTERNATIONAL LIMITED STEADFAST GROUP LIMITED STOCKLAND CORPORATION LTD SUNCORP GROUP LTD SUPER RETAIL GROUP LIMITED SYNLAIT MILK LTD TECHNOLOGYONE LTD TELSTRA CORPORATION LTD TPG TELECOM LTD TRANSURBAN GROUP UNIBAIL-RODAMCO-WESTFIELD VICINITY CENTRES VIVA ENERGY REIT VOCUS GROUP LTD WEBJET LTD WESFARMERS LTD WESTERN AREAS LIMITED WESTPAC BANKING CORP WISETECH GLOBAL LIMITED WOODSIDE PETROLEUM LTD WORLEYPARSONS LTD XERO LTD International Shares 3M CO 58.COM INC ABBVIE INC ABU DHABI NATIONAL OIL COMPANY ADCOCK INGRAM HOLDINGS LTD ADVANCED INFO SERVICE PCL ADVANTECH CO LTD AGL ENERGY LTD AIA GROUP LTD AIB GROUP PLC AIR CHINA LTD AIR FRANCE KLM SA AKER BP ASA ALIBABA GROUP HOLDING ALIGN TECHNOLOGY INC ALLIANZ SE ALLSTATE CORP ALPHABET INC ALROSA ZAO AMADEUS IT GROUP SA AMAZON.COM INC AMERICAN EXPRESS CO AMERICAN TOWER CORP AMERIPRISE FINANCIAL INC ANGLO AMERICAN PLC ANTHEM INC AON PLC AP MOELLER - 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