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GLOBAL MASTERS FUND LIMITED Net Asset Value 2015

Apr 14, 2015

64981_rns_2015-04-14_e63c54e8-9225-462c-a757-e286fc9b1bb7.pdf

Net Asset Value

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10 April 2015

Company Announcements Office Australian Stock Exchange Exchange Centre Level 6, 20 Bridge Street SYDNEY NSW 1215

Net Tangible Asset (NTA) backing at 31 March 2015

The unaudited NTA of the Company was as follows:

Before estimated After estimated
tax on unrealised tax on unrealised
gains gains
at 31 March 2015 174.30 ¢ 155.15 ¢
at 28 February 2015 175.58 ¢ 156.07 ¢

The NTA per share at 31 March 2015 compared to the previous month end was slightly down.The weakening Australian dollar against the USD offset to some degree the fall in the share prices of Berkshire Hathaway stocks on NYSE. The market value of FSI was lower and the Australian dollar strengthened slightly against the UK pound. These factors contributed to the decrease in the NTA at 31 March 2015.

For further information please call the Company Secretary on 1300 552 660.

Yours faithfully,

GLOBAL MASTERS FUND LIMITED

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Brian Jones Company Secretary

Global Masters Fund Limited ABN 84 109 047 618

Tel: +61 1300 552 660 Fax: +61 2 8815 5401 Email: [email protected] www.globalmastersfund.com.au

Level 1 12 O’Connell Street Sydney NSW 2000 Australia