APN Direct Property - Managed Fund (Closed)

The objective of the APN Direct Property managed fund is Provide consistent, relatively high income and some capital growth through investments in a diversified portfolio of predominantly direct property. Over any rolling three-year period APN FM aims to at least deliver an income yield that is 1% per annum above the average Australian Government ten year bond yield, and a growth return that is 1% per annum above the CPI.

The strategy of the APN Direct Property managed fund is To acquire, manage and expand an underlying property portfolio of office, retail and industrial properties located in Australia. The Direct Property Fund intends to invest in listed property securities or property securities funds to enhance the liquidity of the fund while maintaining underlying returns which are property based. Asset allocation Direct Property - 60% Australian listed property securities - 25% Australian unlisted property securities 10% Cash/Fixed Interest - 5%

The APIR code of the APN Direct Property managed fund is APN0005AU.

APN Direct Property’s total return last month was -10.07%. This was made up of a growth return of -10.07% and an income return of 0%. These returns were calculated as at 30 Apr 2014.

APN Direct Property’s total return for the last three months was -11.8%. This was made up of a growth return of -11.8% and an income return of 0%%. These returns were calculated as at 30 Apr 2014.

APN Direct Property’s one-year total return is -19.13%. This was made up of a growth return of -90.2% and an income return of 71.07%. These returns were calculated as at 30 Apr 2014.

APN Direct Property’s one-year total return is -3.6%. This was made up of a growth return of -59.34% and an income return of 55.74%. These returns were calculated as at 30 Apr 2014.

The asset allocation of the APN Direct Property managed fund is :

The Responsible Entity for the APN Direct Property managed fund is APN Funds Management Ltd.

The APN Direct Property managed fund belongs to the Unlisted and Direct Property sector/asset class.

As at 31 Mar 2014, the size of the APN Direct Property managed fund was $2.55 million.

The APN Direct Property managed fund has an inception date of 5 Sep 2005.

The current entry price of the APN Direct Property managed fund is $ per unit and the current exit price is $0.0411 per unit (as at 30 Apr 2014).

The current exit price of the APN Direct Property managed fund is $0.0411 per unit and the current entry price is $ per unit (as at 30 Apr 2014).

The minimum initial investment amount for the APN Direct Property managed fund is $5,000. Minimum additional investment is $1000.