20th August 2008

Dear Investor,


La Trobe was established on 3 August 1952 following registration as a specialist lending company at the Corporate Affairs Office in Melbourne, Victoria. It is a wholly Australian owned, operated and founded company.

Our name 'La Trobe' is derived from the name of the first Victorian Governor, Charles Joseph La Trobe, who is recognised for his fair dealings and decisive leadership and vision.

In our first twenty (20) years of operation (1952-1972) we dealt primarily with loans funded from the Australian Federal Government national grant scheme (Home Purchase Assistance Scheme) in which all loans were to assist low income earners and were government guaranteed against loss.

In 1968 La Trobe formed a Permanent Building Society which was later merged with the Hotham Building Society and was subsequently acquired by Westpac in 1975.

The next twenty (20) years of operation (1975-1995) saw the Group continue to expand from a state based lender to a national lender. A number of major funding and product initiatives were undertaken including the Group’s major break through in September 1984 when our first 100% private mortgage insured funding Facility was approved as a non-government source of wholesale finance to 95% of valuation. This facility was independent of our traditional Government funding channels. This set the foundations for our future role as a professional independent mortgage servicing operation and funds manager.

In 1986 as a result of our efforts, we received a National Award presented by the then Prime Minister R.J. Hawke for 'innovation in housing finance'.

La Trobe's continued growth and development of industry leading products has led to our development as a well seasoned and regulated mortgage servicing organisation.

In 1997 La Trobe sought and obtained a Securities Dealers Licence from the Australian Securities & Investments Commission (ASIC) to permit the commencement of our retail boutique Funds Management Division to complement our range of servicing operations and institutional fund raising activities. In 2001, our Securities Dealers Licence was transformed into an Australian Financial Services Licence, which it continues to hold.


La Trobe today is a diverse financial services group, encompassing private mortgage banking operations, funds management, mortgage servicing administration and limited advisory consulting on a contract basis to other industry participants. It is one of the largest privately held unlisted financial services groups in Australia, with total assets held and under management at the end of June 2008 exceeding $1.6 billion, employing over one hundred and twenty (120) professional staff and having served over 9,500 customers for both mortgages and investments.

Best regards,
Chris Andrews


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Chris Andrews
Head of Funds Management

t  +61 3 8610 2811
e  candrews@latrobefinancial.com.au

Chris Andrews is the Head of Funds Management for the La Trobe Group and has responsibility for the La Trobe Australian Mortgage Fund.
Read full profile here.

La Trobe is one of Australia's leading independent specialist mortgage Financiers. Its business includes residential mortgages, commercial mortgages, and investment services operating one of Australia's largest Mortgage Funds under AFSL 222213. It employs over 115 staff and has raised over AUD$10Billion to assist over 100,000 customers since inception in 1952.

Copyright 2010 La Trobe Financial. All rights reserved. No portion of this may be reproduced, copied, or in any way reused without written permission from La Trobe Financial. Disclaimer

* La Trobe Financial Asset Management Limited ABN: 27 007 332 363 and AFSL No: 222213 is the issuer and manager of the La Trobe Australian Mortgage Fund. It is important for you to read the Product Disclosure Statement for the Fund before you make any investment decision. You can get a copy of the PDS by calling 1800 818 818. You should consider carefully whether or not investing in the Fund is appropriate for you.
(1) The rates of return from the Fund are not guaranteed and are determined by future revenue of the Fund, and may achieve lower than expected returns. Past performance is no guarantee of future performance. Investors risk losing some or all of their principal investment.
(2) Withdrawal rights are subject to liquidity and may be delayed or suspended.
(3) As at 30/11/10 the La Trobe Australian Mortgage Fund had received a Morningstar RatingTM of 5 stars. The Morningstar Rating is an assessment of a fund's past performance - based on both return and risk - which shows how similar investments compare with their competitors. A high rating alone is insufficient basis for an investment decision. © 2010 Morningstar, Inc. All rights reserved. Neither Morningstar, nor its affiliates nor their content providers guarantee the above data or content to be accurate, complete or timely nor will they have any liability for its use or distribution. Any general advice has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. You should consider the advice in light of these matters and, if applicable, the relevant product disclosure statement, before making any decision. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.pdf
(4) 3.75 star rating out of a possible 5 star rating indicates that Adviser Edge believes that La Trobe has performed in line with its peers and exceeded its peers on some fronts.
(5) The Standard and Poors rating of 4 out of 5 stars indicates that S + P has high conviction that La Trobe Financial will consistently generate risk-adjusted fund returns in excess of its relevant investment objectives and relative to its peers.
(6) The award was given to the La Trobe Australian Mortgage Fund, Pooled Mortgages Option.
Research Ratings are subject to change. To view the latest research information please visit www.adviseredge.com.au or www.standardandpoors.com.au. Ratings issued by Adviser Edge Investment Research AFS Licence No. 236783 and Standard & Poors Information Services (Australia) Pty Ltd AFS Licence No. 258896 are solely statements of opinion and not statements of fact or recommendations to purchase, hold, or sell any securities or make any other investment decisions. The ratings are only one factor to be taken into account in deciding to invest. Research Houses receive a fee from La Trobe for rating the product. The Adviser Edge rating is generally a measure of the rated entity's capacity to meet its repayment obligations in all market circumstances.
IMPORTANT: This message, together with the La Trobe Financial website (www.latrobefinancial.com.au) and all its contents have been prepared for general information only and should not be taken as legal or financial advice, and as such the specific needs, investment objectives or financial situation of any particular user have not been taken into consideration. Individuals should therefore talk with their financial planner or advisor before acting on any information present on this message or the La Trobe website.