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The following graph shows how a notional $100,000 invested at the Fund's Inception (20 December 2001) has increased to $258,900 (net of fees excluding performance fees) as at 30 November 2008. After performance fees, the amount would be approximately $236,400. This compares very favourably with the return of the market, where a $100,000 investment would have increased to $149,200 over the same period. The returns exclude the benefits of imputation credits.
Tables 1 and 2 show the PVIF performance relative to the S&P/ASX 300 Accumulation Index for the period 30 November 2008. Table 1 shows the performance on an annual basis and Table 2 shows the cumulative return.
-29.0% -41.2% -5.9% 5.8% 14.6%
-26.5% -40.5% -3.0% 7.5% 5.9%
-2.5% -0.7% -2.9% -1.7% 8.7%
-41.2% -16.6% 32.5% 158.9%
-40.5% -8.8% 43.9% 49.2%
-0.7% -7.8% -11.4% 109.7%

Chart 1 shows holdings by sectors and Chart 2 shows holdings by market capitalisation as at
30 November 2008.
Holdings by Sector [Pie Chart] Holdings by Market Capitalisation [Pie Chart]

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