Who we invest in As at 30 June 2020

We believe in providing full transparency of what you are investing in. This document

outlines the entire list of investments that make up each of the Ethical Investment

portfolios.

Ethical Investment Growth Portfolio

Managers We Invest In

We currently invest in the following funds:

Australian Ethical Emerging Companies Fund

BetaShares Australian Sustainability Leaders ETF

BetaShares Global Sustainability Leaders ETF

BNP Paribas Environmental Equity Trust

Nanuk New World Fund

Pengana WHEB Sustainable Impact Fund

Perennial Smaller Companies Responsible Portfolio

Stewart Investors Worldwide Sustainability Fund

VanEck Vectors Australian Property ETF

Companies We Invest In

Below is the full list of companies held in the Ethical Investment Growth Portfolio:

3m Co

3p Learning Ltd.

A. O. Smith Corporation

A2 Milk Co Ltd

Aalberts Nv

Abacus Property Group

Abbvie Inc

Accenture Plc Class A

Activision Blizzard Inc

Adecco Group Ag

Adobe Inc

Advanced Drainage Sytems Inc

Advantest Corp

Adyen Nv

Aena Sme Sa

Aflac Inc

Agilent Technologies Inc

Aia Group Ltd

Ain Holdings

Air Liquide Sa

Air Products & Chemicals Inc

Air Water Inc

Akzo Nobel Nv

Alcon Inc

Allegion Plc

Alten Sa

Altice Usa Inc

Altium Ltd

Amazon.Com Inc

American Express Co

American Water Works Co Inc

Ameriprise Financial Inc

Amgen Inc

Annaly Capital Management Inc

Ansarada Newco Pty Ltd

Ansell Ltd

Ansys, Inc.

Anthem Inc

Antisense Therapeutics Limited

Appen Ltd

Apple Inc

Applied Materials Inc

Applus Services Sa

Aptiv Plc

Arcadis Nv

Arena REIT

Arista Networks Inc

Asaleo Care Ltd.

Asml Holding Nv

Assicurazioni Generali Spa

Astellas Pharma Inc

Asx Ltd

Aub Group Ltd Ordinary

Australian Ethical Ordinary

Australian Finance Group Ltd.

Australian Pharmaceutical Industries Ltd

Auswide Bank Ltd Ordinary

Autodesk Inc

Automatic Data Processing Inc

Avalonbay Communities Inc

Avery Dennison Corp

Aviva Plc

Axa Sa

Azure Healthcare Limited

Baloise Holding Ag

Bank Of Queensland Ltd

Bapcor Ltd

Bayerische Motoren Werke Ag

Bce Inc

Becton Dickinson And Co

Bega Cheese Ltd

Beiersdorf AG

Beijing Enterprises Water Gr

Bendigo & Adelaide Bank Ltd

Best Buy Co Inc

Bigtincan Holdings Ltd

Bingo Industries Ltd

Biogen Inc

Biomarin Pharmaceutical Inc

Bio-Rad Laboratories Inc

Bkw Ag

Blackmores Limited

Blackrock Inc

Booking Holdings Inc

Boston Scientific Corp

Brambles Limited Ordinary

Bravura Solutions Ltd

Breville Group Ltd

Bristol-Myers Squibb Co

Broadridge Financial Solutions

Bubs Australia Ltd

Bunzl Plc

Bwp Trust

Cable One Inc

Caixabank Sa

Calix Limited Ordinary

Canadian Natl Railway Co

Canadian Pacific Railway Ltd

Capgemini Se

Capital One Financial Corp

Capitol Health Limited

Carbon Revolution Deferred Settlement

Carlisle Cos Inc

Carsales.Com Ltd

Cdw Corp/De

Centene Corporation

Central Japan Railway Co

Cerner Corporation

Challenger Limited Ordinary

Charles Schwab Corp/The

Charter Communications Inc

Charter Hall Group

Charter Hall Long Wale Reit

Charter Hall Soc In Units

China Everbright Intl Ltd

China Railway Signal & Com-H

China Water Affairs Group Ltd

Chorus Ltd

Chr. Hansen Holding A/S

Chubb Ltd

Chugai Pharmaceutical Co Ltd

Cigna Corp

Cisco Systems Inc

Citrix Systems Inc

City Chic Collective Ordinary

Cleanaway Waste Ltd Ordinary

Clinuvel Pharmaceuticals Ltd

Cochlear Limited Ordinary

Cogstate Ltd

Coloplast A/S Class B

Computershare Ltd Ordinary

Constellation Software Inc.

Contact Energy Limited

Cooper Cos Inc

Costa Group Holdings Ltd

Costar Group Inc

Coupa Software Inc

Croda International Plc

Cromwell Property Group

Crown Castle International Cor

CSL

Cv Check Ltd

Cvs Health Corp

Cyclopharm Limited

Daifuku Co Ltd

Dai-Ichi Life Holdings Inc

Daiichi Sankyo Co Ltd

Daikin Industries

Daiwa House Industry Co Ltd

Damstra Holdings Ltd.

Danaher Corp

Deere & Co

Delta Electronics Inc

Demant A/S

Denso Corp

Dexus

Diasorin Spa

Dicker Data Ltd

Diploma PLC

Docusign Inc

Domain Holdings Australia Ltd.

Dubber Corp Ltd Ordinary

East Japan Railway Co

Eaton Corp Plc

Ebay Inc

Ecolab Ltd

Edwards Lifesciences Corp

Edwards Lifesciences Corporation

Eisai Co Ltd

Elia Group

Emcor Group Inc

Emerson Electric Co

Empired Ltd

Energiedienst Holding Ag

Enn Energy Holdings Ltd

Envirosuite Ltd Ordinary

Eqt Holdings Ltd.

Equinix Inc

Equitable Holdings Inc

Equity Residential

Eroad Limited

Essential Utilities Inc

Essilorluxottica Sa

Estia Health Ltd Ordinary

Event Hospitality And Entertai

Expedia Group Inc

Extra Space Storage Inc

F5 Networks Inc

Fanuc Corp

Fastenal Co

Ferguson Plc

First Solar Inc

Fischer (Georg)-Reg

Fisher & Paykel H. Ordinary

Fletcher Building Limited

Fluence Corporation Ordinary

Ford Motor Co

Fortinet, Inc.

Freedom Food Ltd Ordinary

G8 Education Limited

Galaxy Resources Ltd

Garmin Ltd

Gdi Property Group

Gea Group Ag

Geberit Ag-Reg

Gecina Sa

Genetic Signatures Ordinary

Genex Power Ltd Ordinary

Gentrack Group Ltd

Genworth Mortgage Insurance Australia Ltd

Gilead Sciences Inc

Givaudan Sa

Glaxosmithkline Plc

Godrej Consumer Products Limited

Goodman Group

Gpt Group/The

Graincorp Limited A Class

Grand Canyon Edu

Growthpoint Properties Austral

Gud Holdings Ltd

Gwa Group Ltd

Hain Celestial Group Inc

Halma Plc

Hansen Technologies Ordinary

Healius Limited

Hella Gmbh Co Kg Npv

Hennes & Mauritz Ab

Henry Schein Inc

Hikma Pharmaceuticals Plc

Hms Holdings Corporation

Home Depot Inc/The

Homeserve Plc

Honda Motor Co Ltd

Hong Kong Exchanges & Clearing

Horiba Ltd

Host Hotels & Resorts Inc

Housing Development Finance Corporation Limited

Hoya Corp.

Hub24 Ltd Ordinary

Hubbell Inc

Humana Inc

Icon Plc

Idex Corp

Idp Education Ltd

Illinois Tool Works Inc

Immutep Ltd

Impedimed Limited

Imricor Med Sys Forus Def Set

Infigen Energy

Infineon Technologies Ag

Ingenia Group Stapled Securities

Innergex Renewable Energy Inc

Insurance Australia Group Ltd

Intact Financial Corp

Integral Diagnostics Ordinary

Intel Corp

International Flavors & Fragra

Intertek Group Inc

Intuit Inc

Intuitive Surgical Inc

Invocare Limited Ordinary

Iqvia Holdings Inc

Iress Limited Ordinary

Jack Henry & Associates, Inc.

Janison Education Group Ltd.

Janus Henderson Cdi 1:1

Japan Exchange Group Inc

Jb Hi-Fi Ltd

Jb Hunt Transport Services Inc Usd0.01

Kandenko Co Ltd

Kathmandu Hold Ltd Ordinary

Keio Corp

Kerry Group Plc

Keyence Corp

Keysight Technologies In

Kikkoman Corp

Kingspan Group Plc

Kion Group Ag

Kla Corp

Kone Oyj-B

Koninklijke Dsm Nv

Koninklijke Philips Nv

Kotak Mahindra Bank Limited

Kubota Corp

Kyudenko Corp

Laboratory Corp Of America Hol

Lear Corp

Legal & General Group Plc

Legrand Sa

Lennox Intl Inc Com

Lenzing AG

Limeade, Inc. Cdi

Linde Plc

Link Administration Holdings L

Littlefuse Inc

Livetiles Limited

Lkq Corp

Loblaw Cos Ltd

Logitech International Sa

M3 Inc

Mach7 Technologies Ltd.

Macquarie Telecom Group Limited

Marico Limited

Marvell Technology Group Ltd

Mastercard Inc

Mccormick & Co Inc/Md

Mcs Services Limited

Medibank Private Ltd Ordinary

Medical Developments Ordinary

Megaport Ltd

Merck Kgaa

Mercury Nz Ltd

Meridian Energy Limited

Mesoblast Limited Ordinary

Mettler-Toledo International

Micron Technology Inc

Microsoft Corp

Mirvac Group

Mitsui Fudosan Co Ltd

Mnf Group Limited

Molina Healthcare Inc

Monotaro Co., Ltd.

Msa Safety Inc

Mtr Corp

Muenchener Rueckversicherungs-

Nanosonics Ltd

Napier Port Holdings Ltd

National Storage Reit

Nearmap Ltd Ordinary

Neogen Corporation

Netapp Inc

Netflix Inc

Netwealth Group Ordinary

Neurocrine Biosciences Inc

New Energy Solar Stapled

Next Science Limited Ordinary

Nextdc Ltd

Nib Holdings Ltd/Australia

Nice Ltd

Nihon Kohden Corp

Nine Entertainment Co Holdings

Nissan Motor Co Ltd

Nitro Software Ltd.

Nn Group Nv

Nokia Oyj

Nordson Corporation

Norma Group Se

Northern Trust Corp

Nova Eye Medical Ltd

Novo Nordisk A/S

Novozymes A/S Class B

Nuance Communications Inc

Nvidia Corp

Ocado Group Plc

Okta Inc

Omni Bridgeway Ltd

On Semiconductor Corp

Oncosil Medical Ltd

Opthea Limited

Oriental Land Co Ltd/Japan

Orocobre Ltd

Orora Ltd

Orpea Sa

Orsted A/S

Pact Group Holdings Ltd

Palla Pharma Ltd.

Palo Alto Networks Inc

Paychex Inc

Paycom Software Inc

Paypal Holdings Inc

Pendal Group Ltd Ordinary

Pennon Group Plc

Pentair Plc

Perkinelmer Inc

Perpetual Limited Ordinary

Pharmaxis Ltd

Phoslock Env Tec Ltd Ordinary

Pigeon Corporation

Pilbara Minerals Limited

Polynovo Limited Ordinary

Premier Inc

Prescient Therapeutics Limited

Prologis Inc

Prudential Financial Inc

Ptc Inc

Publicis Groupe Sa

Quest Diagnostics Inc

Rakuten Inc

Ramsay Health Care Ltd

Rational AG

Raymond James Financial Inc

Readytech Holdings Ltd.

Realty Income Corp

Reckon Limited

Recruit Holdings Co Ltd

Red Electrica Corp Sa

Redflow Limited Ordinary

Regeneron Pharmaceuticals Inc

Relx Plc

Renaissancere Holdings Ltd

Renishaw Plc

Republic Services Inc

Resimac Group Limited

Resmed Inc

Rhipe Limited

Roche Holding Ag

Rockwell Automation Inc

Rogers Communications Inc

Roper Technologies Inc

Rxp Services Limited

S&P Global Inc

Sage Group Plc/The

Sampo Oyj

Sanofi

Sap Se

Sba Communications Corp

Sca Property Group Stapled Securities

Scentre Group

Schneider Electric Se

Seattle Genetics Inc

Seek Ltd

Segro Plc

Sekisui House Ltd

Select Harvests Ltd

Service Stream Ltd

Severn Trent Plc

Shaw Communications Inc

Shimadzu Corp

Shimizu Corp

Shin-Etsu Chemical Co Ltd

Shionogi & Co Ltd

Shopping Centres Australasia Property G

Shriro Holdings Ltd.

Siemens Ag-Reg

Siemens Heathineers Ag

Sig Combibloc Group Ag

Sigma Health Ltd Ordinary

Silicon Laboratories Inc

Sims Limited Ordinary

Smartgrp Corporation Ordinary

Smith A.O Corp

Smurfit Kappa Group Plc

Snap Inc

Somnomed Limited

Sonic Healthcare Ltd

Sonova Holding Ag - Reg

Spark New Zealand Ordinary

Spectris Plc

Spirax-Sarco Engineering Plc

Splunk Inc

Ss&C Technologies Holdings Inc

Starpharma Holdings Ordinary

State Street Corp

Steadfast Group Ltd Ordinary

Steris Plc

Stockland

Straker Translations Ltd.

Strategic Education Inc

Stryker Corp

Suez

Suncorp Group Ltd

Super Retail Group Ltd

Superloop Limited Ordinary

Swiss Life Holding Ag

Swiss Re Ag

Swisscom Ag

Symrise Ag

Synchrony Financial

Synlait Milk Ltd Ord For. Exempt Nzx

Sysmex Corp

T Rowe Price Group Inc

Taiwan Semiconductor Manufacturing Co. Ltd.

Taiwan Semiconductor-Sp Adr

Takeda Pharmaceutical Co Ltd

Take-Two Interactive Software

Tata Consultancy Services Limited

Te Connectivity Ltd

Tech Mahindra Limited

Technology One Ltd

Telix Pharmaceutical Ordinary

Telstra Corp Ltd

Terna Rete Elettrica Nazionale

Tesla Inc

Thermo Fisher Scientific Inc

Tjx Cos Inc/The

Tokyo Electron Ltd

Tokyu Corp

Tomra Systems

Toyota Motor Corp

Tpg Telecom Limited Ordinary

Tpi Composites Inc

Trane Technologies Plc

Trend Micro Inc/Japan

Trimble Inc

Twilio Inc

Ubisoft Entertainment Sa

Ucb Sa

Udr Inc

Umicore

Unicharm Corporation

Unilever PLC

United Malt Group Limited

United Utilities Group Plc

Unitedhealth Group Inc

Urbanise.Com Ltd.

Usd - United States Dollar

Valmet Oyj

Varian Medical Systems, Inc.

Verisk Analytics Inc

Vicinity Centres

Vifor Pharma Ag

Visa Inc

Vitalharvest Freehold Trust

Vitasoy International Holdings

Vmware Inc

Vocus Group Ltd

Volpara Health Tech Ordinary

Vonovia Se

Wabtec Corp

Waste Connections Inc

Waste Management Inc

Waters Corp

Weg S.A.

Welbilt Inc

West Japan Railway Co

Westrock Co

Wisetech Global Ltd

Wolters Kluwer

Workday Inc

Worldline Sa

Wp Carey Inc

Wpp Plc

Xero Ltd

Xref Ltd

Xylem Inc

Zebra Technologies Corporation Class A

Zendesk Inc

Zhuzhou Crrc Times Electri-H

Zurich Insurance Group Ag

Ethical Investment Fixed Income Portfolio

Managers We Invest In

We currently invest in the following funds:

Affirmative Global Bond Fund

Altius Sustainable Bond Fund

PIMCO ESG Global Bond Fund

Australian Ethical Fixed Interest Fund

BetaShares Sustainability Leaders Diversified Bond ETF

Companies We Invest In

Below is the full list of investments held in the Ethical Investment Fixed Income Portfolio:

Abn Amro Bank Nv

Accunia European Clo Bv

Ace Securities Corp. Home Equity Loan Trust

ACS Servicios Comunicaciones Y Energia S 1.875 20/04/2026

Action Logement Services

Activision Blizzard, Inc.

Adif Alta Velocidad

Aercap Ireland Capital DAC

African Development Bank 0.5 29/09/2020

Agence Francaise De Developpement

Airservices Australia

Albacore EURO CLO DAC

Albion PLC

Alliander NV 0.875 24/06/2032

Alme Loan Funding Dac

American Home Mortgage Assets Trust

American Home Mortgage Investment Trust

American Tower Corp.

American Transmission Systems, Inc.

Amgen, Inc.

Anglian Water Services Financing Plc

Apllo 2015-1 A

Apple Inc 2.85% Feb-23

Aquafin NV 0.875 10/06/2030

Arbour CLO DAC

Argent Securities Trust

Argentina Treasury Bills

Ascension Health

Asian Development Bank

Ausgrid Finance Pty Ltd 3.75% Oct-24

Aust & Nz Banking Group

Aust Capital Territory

Australian Catholic Uni

Australian Government

Australian National Univ

Autonomous Community Of Catalonia

Autonomous Community Of Madrid

Avangrid, Inc.

Aviation Capital Group Llc

Azure Power Solar Energy Pvt Ltd.

B&M Clo Ltd.

Babson Euro Clo Bv

Banco Bilbao Vizcaya Argentaria S.A.

Banco Santander S.A.

Bank Australia Ltd

Bank Of America Corp.

Bank Of China Ltd/Luxembourg 2.25% Jul-21

Bank Of Montreal

Bank Of Nova S/Australia

Bank Of Queensland Ltd

Barclays Bank Plc

Barclays PLC

Bartn 2019-1 A1

Basque Government 1.125 30/04/2029

Bayview Financial Asset Trust

Bazalgette Finance Plc 2.375 29/11/2027

Bbva Usa

Bear Stearns Alt-A Trust

Bear Stearns Asset-Backed Securities Trust

Bear Stearns Mortgage Funding Trust

Bendigo And Adelaide Bk

Berlin Hyp Ag 0.5 05/11/2029

Bluehub Loan Fund, Inc.

Bng Bank Nv

Bnp Paribas Sa 1.125% Aug-24

Boc Aviation Ltd.

Boston Properties Lp 3.4% Jun-29

Bpce Sa 0.125 04/12/2024

Bpifrance Financement Sa 0.125 26/02/2027

Brass PLC

British Telecommunications Plc

Bumper Uk Finance Plc

Bwp Trust

Cairn CLO BV

Caisse Des Depots Et Consignations 0.2% Mar-22

Caixabank S.A.

Caja Rural De Navarra SCC

Campbell Soup Co.

Canada Square Funding Plc

Canadian Government Real Return Bond

Canterbury Finance No. 1 Plc

Cassa Depositi E Prestiti Spa 2.125% Sep-23

Castellum AB

Ceetrus S.A.

Central Nippon Expressway Co. Ltd.

Chase Mortgage Finance Trust

Chevy Chase Funding Llc Mortgage-Backed Certificates

Chicago Transit Authority, Illinois Revenue Bonds, (Babs), Series 2010

Chile Government International Bond

China Development Bank

China Government Bond

Chubb Ina Holdings, Inc.

Cibc Australia

Cit Mortgage Loan Trust

Citibank Na

Citibank Na Sydney

Citigroup Commercial Mortgage Trust

Citigroup Mortgage Loan Trust, Inc.

Citigroup, Inc.

City Of Gothenburg Sweden 1.00 05/11/2024

Clearway Energy Operating Llc

Commercial Mortgage Trust

Commonwealth Bank Aust

Community Preservation Corp.

Conagra Brands, Inc.

Consolidated Edison Co. Of New York, Inc.

Cooperatieve Rabobank Ua

Cooperatieve Rabobank Ua 0.125% Oct-21

Corp Andina De Fomento 0.625 20/11/2026

Countrywide Alternative Loan Trust

Countrywide Asset-Backed Certificates

Countrywide Asset-Backed Certificates Trust

Countrywide Home Loan Mortgage Pass-Through Trust

Covivio 1.125 17/09/2031

Cpi Property Group S.A.

Cppib Capital, Inc.

Crat 2017-1 A1

Credit Agricole Sa/London 0.75% Dec-23

Credit Mutuel Arkea Sa 0.375 03/10/2028

Credit Suisse Ag

Credit Suisse Group Ag

Credit Suisse Group Funding Guernsey Ltd.

Credit Union Au Ltd

Crh America Finance, Inc.

Croatia Government International Bond

Crown Point Clo Ltd.

Cvc Cordatus Loan Fund Ltd.

Cvs Health Corp.

Danone S.A.

Dartry Park Clo Dac

De Volksbank Nv 0.01% Sep-24

Deutsche Alt-A Securities, Inc. Mortgage Loan Trust

Deutsche Bank Ag

Deutsche Kreditbank Ag 0.625 08/06/2021

Deutsche Pfandbriefbank Ag

Development Bank Of Japan, Inc.

Dexia Credit Local S.A.

Dexus Wholesale Property

Digital Dutch Finco Bv

Digital Euro Finco Llc

Dnb Boligkreditt A/S

Dominion Energy Gas Holdings Llc

Driver Espana Ft

Dryden Euro Clo Bv

Dryden Senior Loan Fund

Durham Mortgages B Plc

Ebay, Inc.

Edith Cowan University

Emf-Uk Plc

Emirate Of Abu Dhabi Government International Bond

Empresa De Transporte De Pasajeros Metro 4.750000 04/02/2024

Encore Credit Receivables Trust

Enel Finance International Nv

Erac Usa Finance Llc

Etsa Utilities Finance Pty Ltd. 3.5% 29-Aug-2024

Eurofima 3.9% Dec-25

Euro-Galaxy Clo Bv

Eurohome Uk Mortgages Plc

Euromastr PLC

European Bank For Reconstruction & Development

European Financial Stability Facility

European Investment Bank

European Residential Loan Securitisation Dac

Eurosail PLC

Evans Grove Clo Ltd.

Export Development Canada

Export-Import Bank Of Korea 0.829 27/04/2025

Fair Oaks Loan Funding Dac

Fannie Mae

Fcc Servicios Medio Ambiente Holding Sa 0.815 04/12/2023

Ferrovie Dello Stato Italiane Spa 0.875 07/12/2023

Finland Government Bond

Finsbury Square Plc

First Horizon Alternative Mortgage Securities Trust

Flexi Abs Trust

Ford Foundation

Ford Motor Credit Co. Llc

France Government International Bond

Freddie Mac

Fremont Home Loan Trust

French Republic Government Bond Oat 1.75 25/06/2039

Friary No. 6 Plc

Frontier Finance Plc

Gallatin Clo Ltd.

General Electric Co.

General Mills, Inc.

Ginnie Mae

Gls Auto Receivables Trust

Goldentree Loan Management EUR CLO DAC

Goldman Sachs Group, Inc.

Government Of Australia 0.25% 21-Nov-2024

Greenko Solar Mauritius Ltd.

Grosvenor Place Clo Bv

Gsamp Trust

Gsr Mortgage Loan Trust

Harben Finance Plc

Harve 2017-1 A1

Harvest CLO DAC

Hawksmoor Mortgages Plc

Hbs 2017-1 A1

Heathrow Funding Ltd.

Hera Spa 0.875 05/07/2027

Heritage Bank Ltd

Holmes Master Issuer Plc

Home Equity Asset Trust

Home Equity Mortgage Loan Asset-Backed Trust

Hong Kong Government International Bond 2.5 28/05/2024

Hsbc Bank Canada

Hsbc Holdings Plc

Humana, Inc.

Hungary Government International Bond

Iberdrola Finanzas Sa 1 07/03/2025

Icade 1.5 13/09/2027

Icpf Finance Pty Ltd

Idolt 2016-1 A

Imb 2017-1 A

Impac Secured Assets Trust

Industrial & Commercial Bank Of China Lt 2.875 12/10/2022

Industrial Bank Of Korea 1.04 22/06/2025

Indymac Mortgage Loan Trust

Ing Bank Nv

Ing Groep Nv

Intel Corp

Inter-American Devel Bk

International Bank For Reconstruction & 0.625 22/04/2025

International Development Association 0.75 10/06/2027

International Finance Corp 2.0% Oct-22

International Finance Facility For Immun 0.5 24/06/2024

Intesa Sanpaolo Spa

Intl Bk Recon & Develop

Ireland Government Bond 1.35% Mar-31

Israel Government International Bond

Italy Buoni Poliennali Del Tesoro

Jackson National Life Global Funding

Jamestown Clo Ltd.

Japan Bank For International Cooperation

Japan Finance Organization For Municipalities

Japan Government International Bond

Japan Treasury Bills

Jmp Credit Advisors Clo Ltd.

Jpmorgan Alternative Loan Trust

Jpmorgan Chase & Co.

Jpmorgan Mortgage Trust

Jubilee CLO BV

Jyske Realkredit A/S

Kbc Group Nv

Kensington Mortgage Securities Plc

Kfw

Kfw Bankengruppe 2.4% 02-Jul-2020

Kilroy Realty Lp

Kingdom Of Belgium Government Bond 1.25 22/04/2033

Kingf 2016-1 A1

Kommunalbanken As

Kommunekredit 0.75% Jul-28

Kommuninvest I Sverige Ab 0.125 15/12/2021

Kookmin Bank

Korea Water Resources Corp 3.875 15/05/2023

Kreditanstalt Fuer Wiederaufbau

La Banque Postale Sa 1.375% Apr-29

Lanark Master Issuer Plc

Landesbank Baden-Wuerttemberg

Landwirtschaftliche Rentenbank 2.6% 23-Mar-2027

Leaseplan Corp. NV

Lehman Xs Trust

Lietuvos Energija Uab 1.875 10/07/2028

Lithuania Government International Bond

Lloyds Bank Plc

Long Beach Mortgage Loan Trust

Loomis Sayles Clo Ltd.

Low Income Investment Fund

Ludgate Funding Plc

Mackay Shields Euro Clo Dac

Macquarie Bank Ltd

Macquarie University

Maf Sukuk Ltd 4.638 14/05/2029

Malaysia Government International Bond

Malaysia Government Investment Issue

Marathon Clo Ltd.

Marsh & Mclennan Cos., Inc.

Masco Corp.

Medl 2013-1 A2

Medtronic Global Holdings S.C.A.

Members Equity Bank

Merrill Lynch Mortgage Investors Trust

Mexico Government International Bond

Mirvac Group Finance Ltd

Mitchells & Butlers Finance Plc

Mitsubishi Ufj Financial Group, Inc.

Mizuho Financial Group, Inc.

Monarch Grove Clo

Morgan Stanley

Morhomes PLC 3.4 19/02/2038

Mountain Hawk Clo Ltd.

Mulcair Securities Dac

National Australia Bank

National Bank Of Abu Dhabi PJSC 3.0 30/03/2022

National Housing Finance & Investment Corp. 1.41% 29-Jun-2032

Nationwide Building Society

Nederlandse Financierings-Maatschappij V 2.75 20/02/2024

Nederlandse Waterschapsbank Nv

Netherlands Government Bond 0.5% Jan-40

New Century Home Equity Loan Trust

New South Wales Treasury Corp.

Newcastle Perm Bldg Soc

Nextera Energy Capital Holdings, Inc.

Niagara Mohawk Power Corp.

Nord/Lb Luxembourg S.A. Covered Bond Bank

Nordea Bank Abp 0.3% Jun-22

Nordea Kredit Realkreditaktieselskab

Northern Territory Treasury Corp.

Novastar Mortgage Funding Trust

Nrmbs 2015-1 A

Ntt Finance Corp.

Nxp Bv

Nykredit Realkredit A/S

Ocbc/Sydney

Ocean Trails Clo

Ocp Clo Ltd.

OP Corporate Bank Plc 0.375 26/02/2024

Option One Mortgage Loan Trust

Optus Finance Pty Ltd. 3.25% 23-Aug-2022

Palmer Square Loan Funding Ltd.

Panama Government International Bond

Paragon Mortgages Plc

Pearson Funding Plc

Penta CLO BV

Pepper Residential Securities Trust

Peru Government International Bond

Perusahaan Penerbit Sbsn Indonesia

Perusahaan Penerbit Sbsn Indonesia Iii 4.45% Feb-29

Places For People Treas

Poland Government International Bond

President & Fellows Of Harvard College

Progs 2017-2 A

Prologis International Funding S.A.

Province Of Ontario

Province Of Quebec

Puma 2017-1 A

Qatar Government International Bond

Qic Shopping Centre Fund

Queensland Treasury Corp

Raiffeisen Bank International Ag 0.375% Sep-26

Real Estate Asset Liquidity Trust

Realkredit Danmark A/S

Reckitt Benckiser Treasury Services Plc

Rede D'or Finance SARL

Reds 2017-1 A1

Regie Autonome Des Transports Parisiens

Region Of Ile De France 2.375% Apr-26

Renaissance Home Equity Loan Trust

Renew Power Pvt Ltd.

Republic Of Poland Government International Bond 1.0% Mar-29

Residential Accredit Loans, Inc. Trust

Residential Mortgage Securities Plc

Resimac Bastille Trust

Ripon Mortgages Plc

Rmac Plc

Rongshi International Finance Ltd 3.25% May-24

Royal Bank Of Canada

Royal Bank Of Scotland Group PLC

Russia Government International Bond

Ryder System, Inc.

San Diego Gas & Electric Co.

Santander Retail Auto Lease Trust

Santander Uk Group Holdings Plc

Sbab Bank Ab 0.5 13/05/2025

Scottish Hydro Electric Transmission Plc

Seb S.A.

Sempra Energy

Sequoia Mortgage Trust

Severn Trent Utilities Finance Plc 2.75 05/12/2031

Shinhan Bank Co. Ltd.

Shriram Transport Finance Co. Ltd.

Skandinaviska Enskilda Banken Ab 0.3% Feb-22

Slm Student Loan Trust

Slovenia Government International Bond

Smat 2017-2 A

Smhl 2015-1 A1

Sncf Reseau 2.25% Dec-47

Societe Du Grand Paris Epic

Societe Generale Sfh Sa 0.125 18/07/2029

Sofi Consumer Loan Program LLC

Sorrento Park Clo Dac

Soundview Home Loan Trust

South Africa Government International Bond

Southwest Airlines Co.

Spain Government International Bond

Sparebank 1 Boligkreditt As 0.5% Jan-25

Spark Finance Ltd

Sse Plc 1.375 04/09/2027

Starbucks Corp.

State Bank Of India/London 4.5% Sep-23

State Of North Rhine-Westphalia

Stedin Holding Nv 0.5 14/11/2029

Stockland Trust 1.5% Nov-21

Structured Asset Securities Corp.

Sumitomo Mitsui Banking Corp.

Sumitomo Mitsui Financial Group, Inc.

Sun Group Finance

Suncorp Group Ltd

Swedbank Ab 0.25% Nov-22

Takeda Pharmaceutical Co. Ltd.

Tasmanian Public Finance Corp 3.25% Jan-28

Tbw Mortgage-Backed Trust

Teachers Mutual Bank Ltd

Telefonica Emisiones S.A.

Telos Clo Ltd.

Telstra Corp Ltd

Terna Rete Elettrica Nazionale Spa 1.0% Jul-23

Terwin Mortgage Trust

Tesco Corporate Treasury Services Plc

Tesco Property Finance Plc

Ticp Clo Ltd.

Tokyo Metropolitan Government

Toro European Clo Dac

Toronto-Dominion Bank

Torr 2019-2 A

Towd Point Mortgage Funding Plc

Transport For London 2.125 24/04/2025

Transpower New Zealand

Treasury Corp. Of Victoria

Trinidad Mortgage Securities Plc

Twin Bridges Plc

U.S. Treasury Bills

U.S. Treasury Inflation Protected Securities

U.S. Treasury Notes

Ubs Ag

Unedic Asseo 0.25 25/11/2029

Unicredit Spa

Uniform Mortgage-Backed Security

United Energy Distribution Pty Ltd. 3.5% 12-Sep-2023

United Kingdom Gilt

University Of Sydney

University Of Technology Sydney 3.75% 20-Jul-2027

University Of Wollongong 3.5% 08-Dec-2027

Uropa Securities Plc

Usd - United States Dollar

Utah State Board Of Regents

Vanke Real Estate Hong Kong Co. Ltd.

Vasakronan AB 0.11 13/03/2030

Vendome Funding Clo Dac

Venture Clo Ltd.

Verizon Communications

Vf Corp 0.25 25/02/2028

Victoria Power Networks (Finance) Pty Ltd. 4.0% 18-Aug-2027

Virgin Media Secured Finance Plc

Visa, Inc.

Vodafone Group Plc

Walt Disney Co.

Wamu Mortgage Pass-Through Certificates Trust

Washington Mutual Mortgage Pass-Through Certificates Trust

Welltower, Inc.

Western Australian Treasury Corp.

Westpac Banking Corp

Woolworths Group Ltd

Wst 2013-1 A

Yorkshire Water Finance Plc 2.75 18/04/2041

Zoetis, Inc.

Ethical Investment Mid-Cap Portfolio

Companies We Invest In

Below is the full list of companies held in the Ethical Investment Mid-Cap Portfolio:

Bendigo And Adelaide Ordinary

Australian Ethical Ordinary

Calix Limited Ordinary

Freedom Food Ltd Ordinary

Volpara Health Tech Ordinary

Ingenia Group Stapled Securities

Ramsay Health Care Ordinary

Bingo Industries Ltd Ordinary

Medical Developments Ordinary

Meridian Energy Ordinary

Csl Limited Ordinary

Auswide Bank Ltd Ordinary

Hub24 Ltd Ordinary

Cleanaway Waste Ltd Ordinary

Blackmores Limited Ordinary

Cochlear Limited Ordinary

Stockland Units/Ord Stapled

Charter Hall Soc In Units

Invocare Limited Ordinary

Mercury Nz Limited Ord

G8 Education Limited Ordinary

Sigma Health Ltd Ordinary

Dubber Corp Ltd Ordinary

Genex Power Ltd Ordinary

Australian Pharm. Ordinary

Nearmap Ltd Ordinary

Charter Hall Group Stapled Securities

Sonic Healthcare Ordinary

Technology One Ordinary

Dexus Stapled Units

Hansen Technologies Ordinary

Chorus Limited Ordinary

Challenger Limited Ordinary

Spark Infrastructure Stapled Securities

Sims Limited Ordinary

Redflow Limited Ordinary

Nextdc Limited Ordinary

Polynovo Limited Ordinary

Arena Reit. Ordinary Units

Link Admin Hldg Ordinary

Superloop Limited Ordinary

Integral Diagnostics Ordinary

Appen Limited Ordinary

Tpg Telecom Limited Ordinary

Ethical Investment Large-Cap Portfolio

Companies We Invest In

Below is the full list of companies held in the Ethical Investment Large-Cap Portfolio:

Bendigo And Adelaide Ordinary

Ramsay Health Care Ordinary

Bingo Industries Ltd Ordinary

Telstra Corporation. Ordinary

Brambles Limited Ordinary

Bwp Trust Ordinary Units

Graincorp Limited A Class Ordinary

Gpt Group Stapled Sec.

United Malt Group Limited

Hub24 Ltd Ordinary

Cleanaway Waste Ltd Ordinary

Stockland Units/Ord Stapled

Invocare Limited Ordinary

Bank Of Queensland. Ordinary

Computershare Ltd Ordinary

Nib Holdings Limited Ordinary

Mirvac Group Stapled Securities

Insurance Australia Ordinary

Australian Pharm. Ordinary

Asx Limited Ordinary

Resmed Inc Cdi 10:1

Charter Hall Group Stapled Securities

Costa Group Holdings Ordinary

Sonic Healthcare Ordinary

Technology One Ordinary

Dexus Stapled Units

Chorus Limited Ordinary

Challenger Limited Ordinary

Sca Property Group Stapled Securities

Spark Infrastructure Stapled Securities

Orora Limited Deferred Settlement

Sims Limited Ordinary

Janus Henderson Cdi 1:1

Medibank Private Ltd Ordinary

Nextdc Limited Ordinary

Polynovo Limited Ordinary

Link Admin Hldg Ordinary

Spark New Zealand Ordinary

Appen Limited Ordinary

Seek Limited Ordinary