Smartshares Limited releases results for the NZX 50 Portfolio Index Fund (smartFONZ)

30 August 2006 – Smartshares Limited, a wholly owned subsidiary of New Zealand Exchange Limited (NZX), has announced its results for the smartFONZ Fund, (Fund), covering the six-month period from 1 January 2006 to 30 June 2006.

Key highlights include:

• The NZX 50 Portfolio Index*, (Index), which incorporates both price changes, dividends and imputation credits paid, was up 18.65% for the six months to 30 June 2006.
  - During the period, Unitholders received fully imputed distributions totalling 3.84 cents per unit.
  - The net tangible asset value per unit as at 30 June 2006 was $1.75, up 15.43% from $1.51 at 30 December 2005. The capital value of the Index was up 15.43% for the same period. Therefore the Fund accurately tracked the Index for the six months ended 30 June 2006.

Other significant events during the period included:

• Index changes
• Goodman Fielder Limited listed on the NZSX on 19 December 2005 . It replaced Capital Properties New Zealand Limited in the Index on 4 January 2006.
• The delisting of Carter Holt Harvey Limited on 27 March 2006 gave rise to the promotion of New Zealand Refining Company Limited into the Index.
• Skellerup Holdings Limited replaced AXA Asia Pacific Holdings Limited in the Index on 3 April 2006 .

• Transpacific Industries Group Limited's takeover of Waste Management NZ Limited saw it removed from Index on 21 June 2006 ; it has been replaced by EBOS Group Limited.
• Smartshares Limited added a fifth fund to their family of funds on 30 June 2006 – the NZX Australian 20 Leaders Index Fund (smartOZZY).
• Smartshares launched a quarterly electronic communication, smartALERT. Interested parties can register to receive smartALERT on www.smartshares.co.nz.

For further information regarding Smartshares visit www.smartshares.co.nz

*Gross with imputation credits index value

Download the smartFONZ Appendix 1

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