Returns for Grosset Gaia Fund

July 2011 – 30 March 2012
The following returns stated are indicative for the period above and have not been audited.

Major Holdings

1) Secured Loan

2) Equities – Solco Ltd – Supplier of solar systems

– Telstra Ltd – Telecommunication

3) Cash

Net return for the Fund for the period was approximately -0.63% this result has been benchmarked against the performance of the ASX 200 of the same period which was -5.92%