FirstChoice Wholesale Investments - Colonial First State

COLONIAL FIRST STATE - FIRSTCHOICE WHOLESALE INVESTMENT FUNDSDIRECTORS' REPORTFOR THE PERIOD ENDED 30 JUNE 2011The Directors of Colonial First State Investments Limited, the Responsible Entity of the Colonial First State -FirstChoice Wholesale Investment Funds ("the Funds"), present their report together with the final financial report for thereporting period ended 30 June 2011.Reporting PeriodThe current reporting period for the financial report is from 1 July 2010 to 30 June 2011. The comparative reportingperiod is from 1 July 2009 to 30 June 2010.Principal ActivitiesThis financial report consists of twenty four managed funds belonging to the family of Funds known as the Colonial FirstState - FirstChoice Wholesale Investment Funds. Colonial First State Investments Limited is the Responsible Entity forall of these Funds. The Funds in this financial report and their dates of Constitutions and registration with the AustralianSecurities & Investments Commission (ASIC) are as follows:Name of Fund Also Referred to in this Report as Date of Date ofConstitution RegistrationCommonwealth Multi-Manager Defensive Fund FirstChoice Wholesale Defensive 27/03/2002 27/03/2002Commonwealth Multi-Manager Conservative FirstChoice Wholesale Conservative 27/03/2002 27/03/2002FundCommonwealth Balanced Fund 2 FirstChoice Wholesale Balanced 19/12/2008 16/01/2009Commonwealth Multi-Manager Growth Fund FirstChoice Wholesale Growth 27/03/2002 27/03/2002Commonwealth Multi-Manager High Growth FirstChoice Wholesale High Growth 27/03/2002 27/03/2002FundCommonwealth Multi Manager Geared Growth FirstChoice Wholesale Geared Growth 20/12/2007 25/01/2008FundPlusCommonwealth Global Share Fund 15 FirstChoice Wholesale Global Share - 19/04/2005 4/05/2005HedgedCommonwealth Multi Manager Geared FirstChoice Wholesale Geared Boutique 2/02/2007 16/02/2007Australian Boutique Shares FundAustralian SharePage 1