Everest Financial Group (EFG)

Shares / Stock Code

EFG

Stock Exchange / Sharemarket

ax

Everest Financial Group (EFG) is one the largest Australian based fund managers of Absolute Return Funds. EFG manages its funds primarily through its wholly owned subsidiary, Everest Capital (Manager). Everest Capital 100% owns Everest Capital Management Limited, Everest Finance Group Pty Ltd and Everest Capital Investment Management Limited. Investors can trade Everest Financial Group shares on the Australian Stock Exchange (ASX).

EFG listed on the Australian stock market on 8 April, 2005 as part of a stapled security (with shares being stapled to Units in EBI). On 18 July 2006, stapled security holders approved a restructure proposal to unstaple Shares from Units and list each as a separate security on the ASX. The restructure was implemented on 1 August 2006 and shares began trading as a separate security on 2 August 2006. As at 3 March 2009 EFG had a market capitalisation of $17.6m.

EFG's manager, Everest Capital, is one of Australia's largest managers of absolute return funds. Absolute return funds aim to provide investors with a positive return in all market conditions, through a variety of investment strategies. EFG competes with other absolute return funds listed on the ASX. Its main customers include small share funds, institutional and retail investors. The existing competitors within Australia include HFA, BT, Colonial First State and Deutsche Bank with similar funds of funds strategies.

Everest has a simple investment philosophy that acknowledges that in the realm of global investing, there are a number of very smart professional investors who are better placed to invest in their specific areas and asset classes of expertise than most Australian based investors. Their business is to select and complete due diligence on the smartest global investment managers and then provide a means for Australian and Asian investors to access this talent.

Company look for investment managers with strong pedigree, long track records and with significant skin in the game. Company's only invest in those investment managers who company believe can protect their downside in tough markets and are not looking for managers that simply track an index. Company currently have approximately $460 million invested across more than 30 investment managers on a global basis.