Hastings Funds Management : About Us : Overview Page 1 of 2

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Overview Overview
Hastings News
Hastings currently manages a range of funds invested in infrastructure and high yield debt, four of which are listed on
Investment Strategy the Australian Securities Exchange (ASX) and five which are unlisted wholesale funds. Hastings also manages two
Investor Support private equity funds and one timber investment vehicle.

Performance Hastings' head office is in Melbourne, Australia, with other offices in Sydney, Australia, London, United Kingdom and
Corporate Responsibility San Antonio, United States.

Organisation & People Our Funds

Hastings Board
For individual and listed investors
Leadership Team
Corporate Governance Australian Infrastructure Fund (ASX: AIX) - an ASX listed transport infrastructure fund with a portfolio including airports,
seaports and tollroads.

Hastings Diversified Utilities Fund (ASX: HDF) - an ASX listed fund with a portfolio of utility infrastructure investments
including gas transmission and water supply companies.

Hastings High Yield Fund (ASX: HHY) - an ASX listed fund established to provide investors with exposure to high yield
securities primarily in the form of unlisted loans and hybrid securities not otherwise accessible to retail investors.

TAPS Trust (ASX: TTXPA) - listed on the ASX as a fixed interest instrument; TTXPA was established to finance the HDF
interest in Mid Kent Water (UK).

Hastings Infrastructure Fund (HIF) - an unlisted investment trust that provides retail investors with access to a portfolio of
unlisted Australian and international infrastructure assets

Hastings Income Trust (HIT) - an unlisted investment trust providing retail investors with an opportunity to access the
Hastings Yield Fund (HYF) - a wholesale fund targeting high yield debt investments.

For institutions and consultants

Utilities Trust of Australia (UTA) - an open-ended and unlisted fund generating returns by taking minority equity positions
in infrastructure and utility assets both in Australia and internationally.

The Infrastructure Fund (TIF) - an unlisted fund that gives superannuation funds and life offices the opportunity to gain
exposure to a portfolio of long-life infrastructure assets which closely match their liability profile. TIF includes units in TIF
and TIFB, a trust effectively stapled to TIF.

Hastings Yield Fund (HYF) - an unlisted fund established to provide investors with exposure to high yield debt securities
in the form of loans and hybrid securities.

Hastings Hancock International Timberland Fund (HHIT) - an unlisted unit trust invested in unlisted timberland assets
located in Australia and New Zealand.

Hastings Private Equity (HPE) - currently manages two funds (HPEFI and HPEFII), focusing on investments in mid to
large size private businesses (enterprise values in the range of $20-150 million).

Hastings Team
The Hastings team has the expertise required to invest in, and manage, infrastructure and privatisation investments
encompassing project finance, regulation, banking, tax, risk management and an understanding of the infrastructure
sector's value drivers. In addition, the directors, executives and consultants of Hastings have extensive networks in
equity markets, investment banking, banking, federal and state governments, legal and accounting firms, and the
construction and engineering industries. These networks assist Hastings to clearly identify and comprehensively assess
potential investments. Hastings core objective is to source and invest in infrastructure assets that will return superior
value to investors.

Hastings Westpac Relationship

In November 2005 Hastings became a wholly owned subsidiary of Westpac Banking Corporation.

http://www.hfm.com.au/about/overview/ 4/19/2011
Hastings Funds Management : About Us : Overview Page 2 of 2

Last Updated: 17/05/2010

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http://www.hfm.com.au/about/overview/ 4/19/2011