Managed Funds and ETFs

*Expected Returns: Valuation theory shows that the expected return of a stock is a function of its current price, its book equity (assets minus liabilities) and expected future profits, and that the expected return of a bond is a function of its current yield and its expected capital appreciation (depreciation). We use information in current market prices and company financials to identify differences in expected returns among securities, seeking to overweight securities with higher expected returns based on this current market information. Actual returns may be different than expected returns, and there is no guarantee that the strategy will be successful.

Equity Trustees Limited (ABN 46 004 031 298, AFSL 240975) (“Equity Trustees”) is the Responsible Entity for the American Century Global Small Cap Fund, Avantis Emerging Markets Equity Active ETF (ARSN 685 854 719), Avantis Global Equity Active ETF (ARSN 685 854 862), and Avantis Global Small Cap Value Active ETF (ARSN 685 855 252). Equity Trustees is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT).

The investment manager for these funds is American Century Investment Management, Inc. (“ACIM” or “Manager”), which is exempt from holding an AFSL under the Corporations Act 2011 (Cth) in respect of financial services provided to “wholesale clients” and does not hold such a license. ACIM is regulated by the U.S. Securities and Exchange Commission (SEC) (CRD#105778/SEC#:801-8174) under United States laws, which differ from Australian laws. ACIM relies on ASIC relief provided under Class Order [CO 03/1100] for U.S. SEC-regulated financial services providers in relation to services provided to Australian clients.

The distributor and client services provider for the Fund is American Century Investment Management (AU) Pty Limited (“American Century”), an affiliate of ACIM, which holds AFSL No. 518417 to provide general financial product advice to wholesale clients and will distribute the Fund in Australia.

All website content in respect of AVTE, AVTG, and AVTS is issued by Equity Trustees as the responsible entity of these funds. This material is for information purposes only and should not be construed as an offer, solicitation, or recommendation to buy or sell any financial products. The information is directed and available only to residents of Australia deemed to be Wholesale Clients under Section 761G of the Corporations Act 2001.

The information provided is general in nature and does not take into account your objectives, financial situation, or needs. Before acting on any information, you should consider its appropriateness and the nature of the relevant financial product, having regard to your own objectives, financial situation, and needs. It is not intended to replace professional advice, and you should not act on specific issues in reliance on this information. Neither American Century, ACIM, Equity Trustees, nor any of their related parties, employees, or directors provide any warranty as to the accuracy or reliability of such information or accept any liability to any person who relies on it.

You should obtain and consider the Product Disclosure Statement (“PDS”) before making any investment decision. The Target Market Determination (“TMD”) for each fund is available free of charge at this website  or by calling +613 8623 5000. The TMD describes who the financial product is appropriate for and any conditions around its distribution. Please refer to the TMD before making any investment decisions.

An investment in a Fund is subject to investment and other known and unknown risks, some of which are beyond the control of the Responsible Entity and the Manager, including possible delays in repayment and loss of income and principal invested You should have regard to the risks outlined in the risks section of a Fund's PDS. Neither the Responsible Entity, the Manager nor any of their related entities, directors or officers give any guarantee as to the success of any Fund, amount or timing of distributions, capital growth or taxation consequences of investing in any of the Funds.

The American Century Global Small Cap Fund's Target Market Determination is available here . A Target Market Determination is a document which is required to be made available from 5 October 2021. It describes who this financial product is likely to be appropriate for (i.e. the target market), and any conditions around how the product can be distributed to investors. It also describes the events or circumstances where the Target Market Determination for this financial product may need to be reviewed.

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) ("Zenith") rating (assigned ETL7452AU December 2021) referred to in this piece is limited to "General Advice" (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith's methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at https://www.zenithpartners.com.au/process-methodology/ .

The rating issued 06/2022 is published by Lonsec Research Pty Ltd  ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2025 Lonsec. All rights reserved.

Investment ratings are only one factor to be taken into account when deciding whether to invest.