Foundation Funds Management Limited

This licence authorises the licensee to carry on a financial services business to:

provide general financial product advice only, for the following classes of financial products:

derivatives restricted to derivatives utilised for the management of financial risk (hedging) which only have the purposes of:

management or mitigation of the financial consequences of particular circumstances happening; or

avoiding or limiting the financial consequences of fluctuations, in or in the value of, receipts or costs (including prices and interest rates); and

interests in managed investment schemes limited to:

own managed investment scheme only;

deal in a financial product by:

issuing, applying for, acquiring, varying or disposing of a financial product in respect of the following classes of financial products:

derivatives restricted to derivatives utilised for the management of financial risk (hedging) which only have the purposes of:

management or mitigation of the financial consequences of particular circumstances happening; or

avoiding or limiting the financial consequences of fluctuations, in or in the value of, receipts or costs (including prices and interest rates); and

interests in managed investment schemes limited to:

own managed investment scheme only; and

applying for, acquiring, varying or disposing of a financial product on behalf of another person in respect of the following classes of products:

deposit and payment products limited to:

basic deposit products;

derivatives restricted to derivatives utilised for the management of financial risk (hedging) which only have the purposes of:

management or mitigation of the financial consequences of particular circumstances happening; or

avoiding or limiting the financial consequences of fluctuations, in or in the value of, receipts or costs (including prices and interest rates); and

general insurance products; and

interests in managed investment schemes excluding investor directed portfolio services;

operate the following kinds of registered managed investment schemes (including the holding of any incidental property) in its capacity as responsible entity:

"Stronghold Precincts Property Fund" scheme (ARSN: 633 872 572),

a scheme which only holds the following types of property:

direct real property; and

financial assets; and

provide the following custodial or depository services:

operate custodial or depository services other than investor directed portfolio services;

to wholesale clients.