Portfolio Listing - World

This Trust primarily invests in units in the wholesale Australian Ethical International Equities Trust (AEIET), which makes the international investments. The figures below reflect the asset allocation of the AEIET.

Australian Ethical World Trust
	% of Fund

as at: 30 May 2008

Cash

4.16%

Cash and Equivalent

Equity: Listed International

95.84%

     Accell Group
     Adobe Systems Inc
     Amplifon SpA
     ARRIVA PLC
     Asahi Pretec Corporation
     Aviva Plc
     Baldor Electric Company
     Banco Santander Central Hisp
     Benesse Corporation
     Celesio AG
     Citrix Systems Inc
     Contact Energy NZ
     Deutsche Postbank AG
     Energies Nouvelles
     Gamesa Corp Tecnologica SA
     Getinge AB
     Health Care REIT Inc
     Hera SPA
     Herman Miller Inc
     Hong Kong China Gas
     Hyflux
     Hyflux Ltd
     Iberdrola Renewables
     Impax Group Plc
     Interface Inc
     MTR Hong Kong
     National Express Group PLC
     Ormat Technologies
     Osaka Gas Co Ltd
     Parkway
     Q Cells AG
     ResMed Inc
     Singapore Exchange Ltd
     SMRT Corp Ltd
     Solarworld AG
     Sonova Holding AG
     Stage Coach Group PLC
     Storebrand ASA
     SunPower Corporation
     Swedbank AB
     Tokyo Gas Co Ltd
     Trustpower Ltd
     United Natural Foods Inc
     Vestas Wind Systems A/S
     Vmware
     Whole Foods Market Inc
     William Demant Holdings

The fund size is now $37.7 million

Portfolio listings date

The full portfolio listings are older than other portfolio information in order to protect Australian Ethical's intellectual property.