CD PRIVATE EQUITY FUND II — Fund Information / Factsheet 2017

Feb 12, 2017

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FUND FACTS

Investment objective and strategy

The Fund seeks to provide investors with attractive returns across market cycles through a family office style of investing in small to mid-market private investment funds and privately held companies focused in the US.

Assets of the Fund are invested across twelve specialist private equity investment managers to provide a diverse exposure of industry sectors and investment styles.

A related entity of Walsh & Company Investments Limited (the Responsible Entity) has partnered with Cordish Private Ventures (CPV), the private investment arm of a fourth-generation US family company, The Cordish Companies, who have almost 20 years experience in private investments.

The Fund adopts a similar approach to the long-term private equity investment strategy of CPV and provides the opportunity for investors to invest side-by-side with the Cordish family.

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ASX ticker USG
Inception April 2013
Sector Listed investment trust
Currency AUD (unhedged)
31 December 2016 pre-tax NTA $2.23
Market capitalisation [1] $121.4 million
Units outstanding [1] 55.2 million
Number of underlying managers [1] 12
% of capital drawn [2] 55.6%
ONGOING FEES [3]
Investment manager fee [4] 2% pa
Administration & responsible
entity fee [5] 0.3449 % pa
Performance fee n/a
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For more information on fees and costs associated with the Fund, please refer to Section 7 of the Product Disclosure Statement (PDS) dated 22 February 2013.

DISTRIBUTIONS ANNOUNCED(Last 12 Months)	DISTRIBUTIONS ANNOUNCED(Last 12 Months)
June 2016	8 cents per unit
February 2016	7 cents per unit

Fund performance[6]

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Since
3 month 6 month 1 year 2 year pa 3 year pa
inception pa
Pre-tax NTA return 7.2% 6.7% 3.3% 11.5% 11.1% 12.6%
Unit price return 3.3% 0.5% -3.4% 8.3% 8.9% 10.8%
Unit price to pre-tax NTA
1.5% 2.7% 3.9% 4.1% 4.1% 4.0%
average premium/discount
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Notes: Inception date April 2013 *Total returns are inclusive of distributions net of fees and costs

CHANGE IN UNITHOLDER VALUE TO 31 DECEMBER 2016

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$3.0
NTA USG Unit Price
$2.5
$2.0
$1.5
$1.0
Apr 13 Jun 13 Sep 13 Dec 13 Mar 14 Jun 14 Sep 14 Dec 14 Mar 15 Jun 15 Sep 15 Dec 15 Mar 16 Jun 16 Sep 16 Dec 16
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$3.0
USG Unit Price
$2.5
$2.0
$1.5
$1.0
Apr 13 Jun 13 Aug 13 Oct 13 Dec 13 Feb 14 Apr 14 Jun 14 Aug 14 Oct 14 Dec 14 Feb 15 Apr 15 Jun 15 Aug 15 Oct 15 Dec 15 Feb 16 Apr 16 Jun 16 Aug 16 Oct 16 Dec 16
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Want to know more? uspof.com.au
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MANAGER DIVERSIFICATION BY LP COMMITMENT AND CAPITAL DRAWDOWN [1]
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U.S. Select Direct Blue Point Capital Partners U.S. Select Direct Private Equity 76.6%
Private Equity
5% Chicago Pacific Founders Trive Capital 66.1%
15% 8% Tower Arch Capital 40.1%
DFW Capital Partners
5% Tengram Capital Partners 84.8%
Trive Capital Staple Street Capital 13.8%
10% 8% High Road Capital Partners RFE Investment Partners 81.9%
New MainStream Capital 61.1%
Tower Arch 8% 8% Main Post Main Post Partners 21.9%
Capital Partners High Road Capital Partners 35.6%
10% 7% DFW Capital Partners 83.1%
8% New MainStream Capital Chicago Pacific Founders 35.6%
Tengram Capital 8% Blue Point Capital Partners 37.9%
Partners
RFE Investment Partners
Staple Street Capital 0% 20% 40% 60% 80% 100%
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Jonathan Sinex

Jonathan Cordish Jonathan Sinex Alex MacLachlan Chairman of the Advisory Board Principal, Cordish Private Ventures CEO, Walsh & Company

Contact:

Adam Coughlan Head of Distribution T. (02) 8662 9792 E: adam.coughlan@walshandco.com.au Emmanuel Vergara Key Account Manager T. (02) 9432 3023 E: emmanuel.vergara@walshandco.com.au Reuban Siva Business Development Manager T. (02) 8622 9790 E: reuban.siva@walshandco.com.au

About Walsh & Company

The Walsh & Company Group is a Sydney based specialist global fund manager co-founded in 2007 by Max Walsh. The Company has approximately $3 billion[1] of investor assets under management across global equities, residential and commercial property, private equity, fixed income and sustainable and social investments.

We provide investors access to unique investment strategies not readily accessible to investors and focus on building high quality, diversified portfolios. Walsh & Company Investments Limited is the Responsible Entity of the Fund and is a wholly owned subsidiary of Walsh & Company Group.

Risks

Like all investments, an investment in the Fund carries risks which may result in the loss of income or principal invested. In addition to the general risks of investing, specific risks associated with investing in the Funds include, but are not limited to, private investments risk, liquidity risk and foreign exchange risk. For further information about the risks of investing in the product see Section 9 of the PDS dated 22 February 2013

Important information

This flyer has been prepared by Walsh & Company Investments Limited (ACN 152 367 649, AFSL 410 433) (Responsible Entity) as Responsible Entity for the US Select Private Opportunities Fund II (ARSN 162 057 089) (Fund).

This flyer may contain general advice. Any general advice provided has been prepared without taking into account your objectives, financial situation or needs. Before acting on the advice, you should consider the appropriateness of the advice with regard to your objectives, financial situation and needs. Where the flyer relates to the purchase of a particular product you should obtain a copy of the relevant product disclosure statement before making any decisions in relation to the product. The past performance of the Fund is not a guarantee of the future performance of the Fund.

This flyer may contain statements, opinions, projections, forecasts and other material (forward looking statements), based on various assumptions. Those assumptions may or may not prove to be correct. None of the Fund, the Responsible Entity, its officers, employees, agents, advisers nor any other person named in this flyer (Parties) makes any representation as to the accuracy or likelihood of fulfilment of the forward looking statements or any of the assumptions upon which they are based. Actual results, performance or achievements may vary materially from any projections and forward looking statements and the assumptions on which those statements are based. Readers are cautioned not to place undue reliance on forward looking statements and the Parties assume no obligation to update that information. The Parties give no warranty, representation or guarantee as to the accuracy or completeness or reliability of the information contained in this flyer. The Parties do not accept, except to the extent permitted by law, responsibility for any loss, claim, damages, costs or expenses arising out of, or in connection with, the information contained in this flyer. Any recipient of this flyer should independently satisfy themselves as to the accuracy of all information contained herein. This flyer does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. This flyer may not be distributed or released in the United States. The securities will not be registered under the US Securities Act of 1933 (US Securities Act), or under the securities laws of any state or other jurisdiction of the United States. Not an offer in the US: This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. This document may not be distributed or released in the United States. The securities of the Fund have not been and will not be registered under the US Securities Act of 1933 (US Securities Act), or under the securities laws of any state or other jurisdiction of the United States.

1 As at 31 December 2016 2 Capital drawn down by the Limited Partnership, as at 31 December 2016 3 Inclusive of GST and net of RITC where applicable. Ongoing fees quoted exclude underlying fund manager fees 4 Of the total funds committed by limited partners to the LP. This fee will only be payable for a ten year period from the Fund’s inception 5 Of the gross asset value of the Fund 6 Source: Walsh & Company; Bloomberg as at 31 December 2016

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Want to know more? uspof.com.au
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