9AT: BELL ASSET MANAGEMENT LIMITED

BELL ASSET MANAGEMENT LIMITED

BELL ASSET MANAGEMENT LIMITED

KARARA CAPITAL LIMITED

Adviser Profile

As of Date	03/25/2026
Registration	SEC, Approved, 07/10/2008
ADV Location	MELBOURNE, Australia
Contact Info	613 xxxxxxx
Websites

AUM^*	2,176,768,080 -38%
of that, discretionary	2,176,768,080 -38%
Number of Employees	30
of those in investment advisory functions	10 11%
Private Fund GAV^*	0
Avg Account Size	155,483,434 -20%
SMA’s	Yes
Private Funds	0

Adviser Type

- Large advisory firm

Client Types

- Pooled investment vehicles
- Pension and profit sharing plans
- State or municipal government entities
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management

Reported AUM

3B 3B 2B 2B 1B 995M 498M

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Discretionary

Non-discretionary

Private Funds

No private funds

Employees

Brochure Summary

Overview

Bell Asset Management Limited (“BAM”) is an Australian corporation based in Melbourne. BAM is primarily owned by Bell Asset Management (Holdings) Pty Limited, the owners of which are Bell Group Holdings Pty Ltd., Estate of Colin Bell, Alastair Provan, and other directors and staff. BAM provides advice to pooled investment vehicles and separate managed accounts and, through Bell Asset Management USA Inc (“BAM USA”), a wholly owned subsidiary of BAM, to two long-only equity investment vehicles, Bell Australia Trust and Bell Global Trust (the “Bell Trusts”).
• The Bell Australia Trust seeks to maximize total return through investment primarily in equity securities listed on the Australian Securities Exchange.
• The Bell Global Trust seeks to maximize total return through investment primarily in a globally diversified portfolio of equity securities listed on recognized international stock exchanges in the world’s developed markets. BAM intends to provide advice to the Bell Asset Management Master Collective Investment Trust, which is expected to consist initially of two funds (“Bell CITs”):
• Bell Global Equities CIT seeks long-term capital appreciation through investing predominantly in the equity securities of companies domiciled in countries

included in the MSCI World Index.
• Bell International Equities CIT seeks long-term capital appreciation through investing predominantly in the equity securities of companies domiciled in countries included in the MSCI EAFE Index. At the date of this brochure, there are no assets or investors within the Bell CITs. BAM offers portfolio management services to its clients on a discretionary basis, based upon the individual needs and objectives of each client. BAM, the parent company of BAM USA, acts as Sub-Advisor of each Bell Trust and Bell CIT and manages their accounts on behalf of BAM USA. Accordingly, references in this brochure to BAM should also be understood to refer to BAM USA where appropriate. BAM may agree in the investment management agreement with each client to investment restrictions or guidelines with respect to the types or amounts of securities or other financial instruments that may be purchased or sold for the client’s account. BAM may pursue different investment strategies for different clients. BAM does not participate in any wrap fee programs. BAM manages all assets on a discretionary basis. As of 31 December 2023, the amount of regulatory assets BAM manages on a discretionary basis is US$ 3,482 million.

BELL ASSET MANAGEMENT LIMITED

BELL ASSET MANAGEMENT LIMITED

KARARA CAPITAL LIMITED

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Brochure Summary

Overview

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BELL ASSET MANAGEMENT LIMITED BELL ASSET MANAGEMENT LIMITED KARARA CAPITAL LIMITED

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Brochure Summary

Overview

BELL ASSET MANAGEMENT LIMITED

BELL ASSET MANAGEMENT LIMITED

KARARA CAPITAL LIMITED