TOWER's multi-manager investment options are managed by Russell Investment Management Ltd

TOWER's multi-manager investment options are managed by Russell Investment Management Ltd (Russell) (ABN 53 068 338 974, AFSL 247185), a member of the Russell Investment Group of companies which is the world's largest multi-manager.

TOWER's investment strategy for the multi-manager investment options is to invest in the underlying Russell funds or other funds that Russell oversees on behalf of TOWER. In relation to its funds, Russell in turn selects the underlying investment managers for its funds and regularly monitors the investment managers or underlying funds.

For its funds, Russell may add, remove or change the underlying investment managers or any underlying funds in which the Russell funds invest at any time and without notice. For the funds that Russell oversees, TOWER may add, remove or change the underlying investment managers at any time without notice.

About Russell

Russell Investment Group improves financial security for people by providing strategic investment advice, world-class implementation, state-of-the-art performance benchmarks, and a range of objectively researched, institutional-quality investment products. With more than A$250 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries.

Russell provides access to some of the world's best money managers. It helps investors put this access to work in large superannuation funds and in the life savings of individual investors.

Founded in 1936, Russell is a subsidiary of Northwestern Mutual. The firm, headquartered in Tacoma, Washington, U.S., has principal offices in Amsterdam, Auckland, Hong Kong, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto. Visit www.russell.com for more information.

For information on the underlying managers selected by Russell to manage its underlying funds, please refer to the 'Russell Multi-manager Line Up' located at 'Disclosure documents'.

A copy of the Russell Funds Class D Units Product Disclosure Statement, which contains information on the underlying Russell funds, is available at 'Disclosure documents'.

Also appearing under 'Disclosure documents' are current disclosure documents for the underlying funds that Russell currently oversees on behalf of TOWER.

The TOWER Ethical Growth investment option only utilises the resources of a single specialist investment manager.

This option is managed by AMP Capital Investors Limited (AMP Capital Investors) (ABN 59 001 777 591, AFSL 232497). A copy of the current disclosure document for the underlying fund managed by AMP Capital Investors is available at 'Disclosure documents'