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FirstChoice Wholesale Investments - Colonial First State

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COLONIAL FIRST STATE - FIRSTCHOICE WHOLESALE INVESTMENT FUNDSSingle Financial ReportDIRECTORS' REPORTFOR THE PERIOD ENDED 30 JUNE 2011The Funds are of the kind referred to in Class Order 06/0441 dated 29 June 2006 issued by Australian Securities &<strong>Investments</strong> Commission and in accordance with that Class Order, Funds with a common Responsible Entity caninclude the financial statements in adjacent columns in a single financial report.Proceeds from redeeming units in a Fund can be applied to acquire units in other Funds included in this financialreport.Auditor's Independence DeclarationA copy of the Auditor's Independence Declaration as required under Section 307C of the Corporations Act 2001 isset out on the following page.Signed in accordance with a resolution of the Directors of <strong>Colonial</strong> <strong>First</strong> <strong>State</strong> <strong>Investments</strong> Limited.Bradley Brian MasseyDirectorSydney30 August 2011Page 9

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