DUI invests only in stocks listed on the ASX, with a heavy focus on large cap stocks, with 85% of the portfolio allocated to stocks within the S&P/ASX 50 as at 31 December 2012. There are no restrictions regarding the minimum or maximum investment in any individual stock or sector and as such the company may take high conviction positions in securities.

FSI has a concentrated portfolio of ASX-listed stocks. The company takes high-conviction positions in companies identified as attractive. Large-cap stocks account for just over half the portfolio, with the rest split between mid- and small-cap stocks.

GOVT is an index fund that tracks the S&P/ASX Government Bond Index. GOVT seeks to achieve this by holding a sample of the securities in the index to build a representative portfolio that provides a return comparable to that of the index.

The portfolio is diversified, typically consisting of 50 to 80 stocks. Given the company invests in small- to mid-cap stocks, the portfolio encompasses a greater level of risk than portfolios comprising larger-cap stocks, due to the reliance of smaller companies on single markets. The portfolio outperformed the S&P/ASX Small Ords Accumulation Index by 2.1% over the December 2012 quarter.

The portfolio will mimic the S&P/ASX 200 Financials Ex A-REIT Accumulation Index. The index comprises 20 stocks. Five of these stocks account for 77% of the index, therefore fluctuations in these stocks will have a large impact on the performance of the index. Turnover is expected to be low.