Provide investors with a consistent and relatively high level of income compared to the Benchmark, combined with some capital growth, derived predominantly from investing in Asian REITs;

The Fund will invest primarily in REITs listed on the securities exchanges of the Asia Region (including, but not limited to, Hong Kong, Singapore, Malaysia, Japan and New Zealand, but excluding Australia), as well as cash and fixed interest investments

• Access to a diversified portfolio of underlying Asian commercial real estate.
• Unlike many property securities funds which invest significantly on the basis of index weighting, APN determines the relative value of each property security.
• Disciplined investment strategy designed to reduce both market and specific risk.
• Monthly distributions.
• Limited exposure to higher risk earnings.
• Nil entry and exit fees.

• Medium to long term investors.
• Investors seeking consistent and high levels of income and the potential for some long term capital growth.
• SMSFs – investors managing their own retirement.
• Investors wanting access to a diversified portfolio of quality Asian REITs.

• Provide investors with a consistent and relatively high level of income compared to the Benchmark, combined with some capital growth, derived predominantly from investing in Asian REITs;
• Have a gross annual income yield (before management fees, expenses and taxes) that equates to at least 110% of the average yield of the Benchmark;
• Provide investors with some capital growth over a 5-7 year time horizon; and
• Provide lower than market volatility

The Fund will not invest in direct property. We will continually review and, if appropriate, reweight the Fund’s investments with the objective of optimising the Fund’s distributable income. The Constitution allows us to borrow on behalf of the Fund. It is our current intention that the Fund will not undertake direct borrowing. However, the entities in which the Fund invests may borrow. It is our current policy not to use derivatives for currency hedging or leverage purposes within the Fund. The Fund may use derivatives for risk management purposes. Underlying investments in which the Fund invests may use derivatives.

Target asset allocations: