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Global Equities - Performance @ 31 July 2008   3 month   Fin. Yr   1 Year  3 Year  5 Year    7 Year Fund Actual  Bmk  Actual  Bmk  Actual Bmk  Actual Bmk  Actual  Bmk  Actual  Bmk Australian Equities QIC Australian Equities Core Fund -11.02  -10.33  -3.55  -4.56  -17.36 -15.60  7.64 8.70  14.17  14.44  9.84  10.34 QIC Active Large Companies Fund -10.65  -10.12  -5.28  -4.61  -14.36 -14.96  - -  -  -  -  - QIC Active Small Companies Fund -12.87  -12.88  -1.41  -5.48  -34.72 -24.02  - -  -  -  -  - QIC Implemented Australian Equities Fund -9.70  -10.33  -5.02  -4.56  -13.13 -15.60  9.82 8.70  15.16  14.44  -  - QIC Property Securities Fund -23.15 -22.97  -6.36  -4.97  -35.83 -36.47  -0.60 -4.20  6.60  4.41  8.98  6.85 International Equities QIC International Equities Fund (UH) -9.70 -9.04  -2.49 -0.48  -20.39 -19.27  -1.03 -0.93  2.85  2.69  -3.62  -3.84 QIC Hedged International Equities Fund -8.77 -8.03  -3.43 -1.73  -14.52 -12.92  - -  -  -  -  - QIC International Equities Small Companies Fund -2.89 -6.29  -1.54 0.21   -23.16 -23.14  - -  -  -  -  -