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GLOBAL MASTERS FUND LIMITED Net Asset Value 2015

Sep 10, 2015

64981_rns_2015-09-10_e6cecd01-be36-48ff-9856-835d70f74def.pdf

Net Asset Value

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10 Sept e mber 2015

Compa n y Announcements Offic e Australi a n Stock Ex c hange Exchan g e Centre Level 6, 20 Bridge S t reet SYDNE Y NSW 1215

Net Tangible Asset (NTA) backing at 31 August 2015

The unaudited NTA o f the Company was as f ollows:

Befortax one estimatedunrealisedgains After etax on ugstimatednrealisedains
at 31August 2015 174.02 ¢ 155.17 ¢
at 31July 2015 182.39 ¢ 161.52 ¢

Despite the weake n ing of the A ustralian D ollar again s t both the United Stat e s Dollar a n d British Pound, s hare prices of Flagship Investment s (FSI) and B erkshire Ha t haway (BR K ) dropped d uring the month of August 20 1 5, leading t o a fall in th e NTA per s h are at 31 A ugust 2015, compared to 31 July 2015.

For furt h er informati o n please call the Comp a ny Secreta r y on 1300 5 5 2 660.

Yours f a ithfully, GLOBAL MASTERS FUND LIMITED

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Brian Jones Compa n y Secretary

Global Masters Fund Limited Level 1 ABN 84 109 047 618 12 O’Connell Street Tel: +61 1300 552 660 Sydney NSW 2000 Fax: +61 2 8815 5401 Australia Email: [email protected] www.globalmastersfund.com.au