Hastings High Yield Fund : Distribution letter for the quarter ended 30 September 2012

Hastings Funds Management Limited ABN 27 058 693 388

AFSL No. 238309

Level 27, 35 Collins Street Melbourne VIC 3000 Australia T [phone]

F [phone]

www.hfm.com.au

Melbourne, London, New York, Sydney

ASX Announcement

Hastings High Yield Fund (HHY) Total pages: 4

26 October 2012

Distribution letter for the quarter ended 30 September 2012

The attached correspondence has been sent to investors today regarding the distribution for the quarter ended 30 September 2012.

For further enquiries, please contact:

Ross Pritchard

Chief Operating Officer

Hastings High Yield Fund

Tel: [phone]

Fax: [phone]

Email: [e-mail]

Website: www.hfm.com.au

Simon Ondaatje

Head of Investor Relations

Hastings Funds Management

Tel: [phone]

Fax: [phone]

Email: [e-mail]

Website: www.hfm.com.au

Jane Frawley

Company Secretary

Hastings Funds Management Limited

Unless otherwise stated, the information contained in this document is for informational purposes only. It does not constitute an offer of securities and should not be relied upon as financial advice. The information has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person or entity. Before making an investment decision you should consider, with or without the assistance of a financial adviser, whether any investments are appropriate in light of your particular investment needs, objectives and financial circumstances. Neither Hastings, nor any of its related parties including Westpac Banking Corporation ABN 33 007 457 141, guarantees the repayment of capital or performance of any of the entities referred to in this document and past performance is no guarantee of future performance. Hastings, as the Manager or Trustee of various funds, is entitled to receive management and performance fees.

26 October 2012

Hastings Funds Management Limited
ABN 27 058 693 388
AFSL No. 238309
Level 27
35 Collins Street

Melbourne VIC 3000 Australia

T [phone]
F [phone] www.hfm.com.au

Melbourne, London, New York, Sydney

000001

000

1301011221012102012221332120133322113

SAM

MR SAM SAMPLE FLAT 123

123 SAMPLE STREET THE SAMPLE HILL SAMPLE ESTATE SAMPLEVILLE VIC 3030

Dear Investor,

Hastings High Yield Fund interim distribution for the quarter ended 30 September 2012

Hastings Funds Management Limited as Responsible Entity for the Hastings High Yield Fund (HHY), is pleased to enclose your interim distribution statement for the quarter ended 30 September 2012.

The distribution amount is 39.00 cents per unit and is payable to all investors on the HHY unitholder register at

28 September 2012. It is anticipated that the distribution will be treated as a 'return of capital' for tax purposes, but it is important to note that clarification of the tax treatment for all 2013 financial year distributions will be provided in the annual statement that will be mailed to investors following the 2013 financial year.

The distribution is part of an orderly run-off and wind-up of the fund. The wind-up of HHY will occur over a period in excess of three years as investments mature and surplus cash can be returned to investors.

Distribution Reinvestment Plan

As previously advised, please note that HHY's Distribution Reinvestment Plan (DRP) has been suspended until further notice.

Subscribe to Updates

Receive announcements as they are released to the market by registering at www.hfm.com.au/asxlisted/subscribe
If you have any queries about the enclosed distribution or any other matters relating to your investment in HHY, please contact Computershare Investor Services on 1300 131 164 or email [e-mail].

Quotation of Tax File Numbers (TFN), Australian Business Numbers (ABN) or Exemptions

Withholding tax may have been withheld from your distribution payment. While it is not compulsory for you to provide a TFN, ABN or exemption notification, if you are an Australian resident or subject to Australia's taxation laws, it is in your interest to supply such information. Please log onto http://www.investorcentre.com/au or call 1300 131 164 to register your details.

Yours faithfully,

Jane Frawley

Company Secretary

Hastings Funds Management Limited

Unless otherwise stated, the information contained in this document is for informational purposes only. It does not constitute an offer of securities and should not be relied upon as financial advice. The information has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person or entity. Before making an investment decision you should consider, with or without the assistance of a financial adviser, whether any investments are appropriate in light of your particular investment needs, objectives and financial circumstances. Neither Hastings, nor any of its related parties including Westpac Banking Corporation ABN 33 007 457 141, guarantees the repayment of capital or performance of any of the entities referred to in this document and past performance is no guarantee of future performance. Hastings, as the Manager or Trustee of various funds, is entitled to receive management and performance fees.

000001

000

Hastings Funds Management Limited
ABN 27 058 693 388
AFSL No. 238309

1301011221012102012221332120133322113

All correspondence to:

Computershare Investor Services Pty Limited
GPO Box 2975 Melbourne
Victoria 3001 Australia

Enquiries

(within Australia) 1300 131 164 (outside Australia) 61 3 9415 4243
www.investorcentre.com/contact www.hfm.com.au

SAM

MR SAM SAMPLE FLAT 123

123 SAMPLE STREET THE SAMPLE HILL SAMPLE ESTATE SAMPLEVILLE VIC 3030

Payment Date 26 October 2012
Record Date 28 September 2012
TFN Status Quoted
Holder Number X0000000000

Quarterly Interim Distribution Statement 30 September 2012 Hastings High Yield Fund (HHY)

Direct Credit Instruction:

SAMPLE BANK

SAMPLE BSB SAMPLE ACC

This quarterly interim distribution statement relates to the units registered in your name as at 28 September 2012.

This statement is provided for information only. An Annual Distribution Statement will be provided in relation to the 2013 income year of HHY for preparing your tax return.

Security Type Distribution

(per security)

Number of securities held at 28 September 2012

Gross Total

Distribution

Units 39.00 cents

X,XXX $XX.XX

Less: TFN amounts withheld $XX.XX MIT withholding $XX.XX Other withholding tax $XX.XX

Net Distribution Paid $XX.XX

Fund Payment Amount

In accordance with the Managed Investment Trust (MIT) withholding provisions, this distribution includes a Fund Payment Amount of $0.00, which represents that part of the distribution from which MIT withholding is required if the payment is made directly to non-resident investors. This information is provided pursuant to section 12-395 of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953.

Should you have any queries relating to this distribution statement, please contact Computershare. Hastings does not give tax advice and how tax law applies to you depends on your particular facts and circumstances. Accordingly, it is recommended that you obtain independent tax advice.

Payment Instruction Update

To update your payment instructions, please log on to http://www.investorcentre.com/au or call 1300 131 164. THIS ADVICE SHOULD BE RETAINED FOR TAXATION PURPOSES.

000001

000

Hastings Funds Management Limited
ABN 27 058 693 388
AFSL No. 238309

1301011221012102012221332120133322113

All correspondence to:

Computershare Investor Services Pty Limited
GPO Box 2975 Melbourne
Victoria 3001 Australia

Enquiries

(within Australia) 1300 131 164 (outside Australia) 61 3 9415 4243
www.investorcentre.com/contact www.hfm.com.au

SAM

MR SAM SAMPLE FLAT 123

123 SAMPLE STREET THE SAMPLE HILL SAMPLE ESTATE SAMPLEVILLE VIC 3030

Payment Date 26 October 2012
Record Date 28 September 2012
TFN Status Quoted
Holder Number X0000000000

Hastings High Yield Fund (HHY) - Quarterly Interim Distribution Statement 30 September 2012

This quarterly interim distribution statement relates to the units registered in your name as at 28 September 2012.

This statement is provided for information only. An Annual Distribution Statement will be provided in relation to the 2013 income year of HHY for preparing your tax return.

Security Type Distribution

(per security)

Number of securities held at 28 September 2012

Gross Total

Distribution

Units 39.00 cents

X,XXX $XX.XX

Less: TFN amounts withheld $XX.XX MIT withholding $XX.XX Other withholding tax $XX.XX

Net Distribution Paid $XX.XX

Fund Payment Amount

In accordance with the Managed Investment Trust (MIT) withholding provisions, this distribution includes a Fund Payment Amount of $0.00, which represents that part of the distribution from which MIT withholding is required if the payment is made directly to non-resident investors. This information is provided pursuant to section 12-395 of Subdivision 12-H of Schedule 1 to the Taxation Administration Act 1953.

Should you have any queries relating to this distribution statement, please contact Computershare. Hastings does not give tax advice and how tax law applies to you depends on your particular facts and circumstances. Accordingly, it is recommended that you obtain independent tax advice.

Payment Instruction Update

To update your payment instructions, please log on to http://www.investorcentre.com/au or call 1300 131 164.

THIS ADVICE SHOULD BE RETAINED FOR TAXATION PURPOSES.

360 Collins Street, Melbourne VIC

Hastings High Yield Fund

TO THE ORDER OF

MR JOHN SAMPLE FLAT 123

SAMPLE STREET SAMPLE STREET SAMPLE STREET SAMPLETOWN VIC 3030

CHEQUE NO: 012345

DATE: 26 October 2012

$**0.00**

PAY THE SUM OF ZERO THOUSAND ZERO HUNDRED AND ZERO DOLLARS AND ZERO CENTS

For and on behalf of

Hastings Funds Management Limited ABN 27 058 693 388

Distribution Account

Security feature included in this cheque is microprint signature line: the absence of which could indicate a fraudulent cheque

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