Australia: LM lists with Navigator

Aviva today announced the addition of LM Wholesale Mortgage Income Fund to its Navigator investment platform – boosting its options to in excess of 180 managed funds.

The Fund’s "at call" investment option will be available via Navigator’s Investment Allocation Authority from 15 August 2005.

It is the fifth fund in Navigator’s "mortgages" category comprising the AXA Wholesale Australian Monthly Income Fund, Howard Wholesale Mortgage Trust, ING Mortgage Trust number two and Perpetual’s Wholesale Monthly Income Fund.

The LM Wholesale Mortgage Income Fund is managed by LM Investment Management Ltd, a specialist funds manager operating internationally from the Gold Coast, Sydney, Hong Kong and Bangkok. LM is 100% Australian owned and managed.

With more than $800 million funds currently under management, LM specialises as an Australian first mortgage lender for prime commercial and development opportunities nationally.

With a rate of return of 6.75% per annum*, since inception the Fund has delivered its declared distribution rates to investors, outperforming the Morningstar Australian Mortgage Trust Sector.

LM’s chief executive, Peter Drake said that its recent listing with Navigator would assist the company’s continued growth.

"In the 12 months to June 2005, our funds under management have grown to over $800 million, which represents a 60% growth on the previous year."

" We remain on track to achieve $1 billion funds under management by January 2006, and our inclusion with Navigator significantly broadens the Fund’s availability to over 50 master trusts and wraps domestically and abroad," Mr Drake said.

LM has enjoyed significant growth, and recently placed in the top ten fund managers in all asset classes for net fund inflows (ASSIRT research for the 3 months to 31 March 2005).

"We’ve also experienced significant expansion in our distribution channels, and each month an average of 32 new advisers are writing their first business with us. This takes our adviser network to in excess of 1,000 financial advisers domestically and internationally," said Mr Drake.

Navigator head of research, Stuart Fechner said the LM fund had been selected due to a good level of interest from financial advisers and consistent sound performance.

"Financial advisers consistently tell us what they are looking for is a reputable investment option that provides a point of differentiation which has a good track record. The LM fund was scrutinised and passed the Navigator due diligence process, so we are delighted to offer it to investors who use our platform," said Mr Fechner.-ends-

For further information please contact:
Michelle Lawrence
LM Investment Management Ltd
(07) 5584 4503
0402 085 231

Simon Morgan
Aviva Australia
(03) 9829 8892
0407 966 632

*Information about the fund manager including performance has been based on information provided by the fund manager. Neither Navigator Australia Limited ABN 45 006 302 987, NULIS Nominees (Australia) Limited ABN 80 008 515 633 nor the fund manager or any of their related entities guarantee the capital invested or the performance of the fund. The distribution rate may vary during the investment term. It is the current rate available to master trusts and wrap account services and is effective as at 15 August 2005. Effective rates are based on monthly distributions being reinvested. Past performance does not guarantee future performance.

Notes to editors:

• Aviva Australia is a group of two specialist financial services companies: Navigator Australia Limited and Norwich Union Life Australia Limited. Portfolio Partners Limited is the Australian funds management arm of Aviva plc. Through these companies we provide products and services in the areas of wealth management and wealth protection for more than 300,000 customers throughout Australia.
• Globally, Aviva Australia is part of Aviva plc, the world’s fifth largest insurance group, the largest insurer in the UK and one of the top five life companies in Europe. Aviva was formed in May 2000 through the global merger of CGU plc and Norwich Union plc.
• Aviva is a leading provider of life and pensions products to Europe and has substantial businesses elsewhere around the world. Its main activities are long-term savings, fund management and general insurance. It has premium income and investment sales from continuing operations of A$78.6 billion, and more than A$645 billion of assets under management (as at 7July 2005). The group has more than 60,000 employees and 30 million customers worldwide.
• The information in this document reflects Navigator Australia Limited's ABN 45 006 302 987 ('Navigator') understanding of existing legislation, proposed legislation, rulings etc as at the date of issue. In some cases the information has been provided to us by third parties. While it is believed the information is accurate and reliable, this is not guaranteed in any way. The information given in this document is of a general nature and has not taken into account the investment objectives, financial situation or particular needs of any particular person and it is not a substitute for professional advice. Applications to invest in a financial product issued by NULIS Nominees (Australia) Limited ABN 80 008 515 633, or any of its related entities, must be made by completing the application form attached to the applicable Product Disclosure Statement ("PDS"). A PDS is available from NULIS or your financial adviser. Applications to invest in investment product(s) through the investor directed portfolio service ("IDPS"), operated by Navigator, must be made by completing the application form attached to the applicable IDPS Guide Offer Document and Investment Allocation Authority. Before making an investment decision on the basis of the information above, a prospective investor needs to consider, with or without the assistance of a professional adviser whether the information is appropriate in the light of their particular investment needs, objectives and financial circumstances. Aviva does not receive any remuneration in relation to the provision of information available from this press release which is of a general nature only.