Investors seeking returns available from an asset class that is not directly subject to the volatility of equity markets. The Fund is designed to source loans secured by registered first mortgages held over Australian real estate to generate monthly income returns for investors. At present, the loans in the Fund are for the purposes of financing property development, construction and refinancing completed stock. The Fund aims to provide investors with a monthly distribution based on the net returns from the loans, cash, and any other investments held by the Fund. While the unit price of the Fund is fixed at $1.00, capital losses can occur in circumstances where an asset of the Fund incurs a capital loss. Therefore, while an investment in the Fund could experience capital loss and is higher risk and more volatile than cash or fixed income securities, the Fund is expected to exhibit lower volatility than listed equities or listed REITs in a market downturn.

Investors intending to hold an investment in the Fund as a satellite / small part of their total Investable Assets. The Fund offers exposure to a portfolio of loans secured by registered first mortgages held over property geographically spread across Australia’s eastern seaboard states and territories. At present, the Fund’s loans are for property development, construction or refinance and a single loan or single borrower may exceed 5% of the Fund’s assets. Accordingly, the Fund’s portfolio diversification is Low (see diversification definitions below. Investors should use the Fund as a Satellite / small allocation to spread the risks of investing in the Fund across a broad portfolio of investments.

Investors seeking to invest in the Fund for the Medium term. The minimum investment term is two months; however, the Fund is managed with the intention of generating returns over the Medium term. The minimum suggested timeframe for holding an investment in the Fund is two years.

The consumer is higher risk in nature and can accept higher potential losses. The Fund aims to provide monthly income distributions to investors while maintaining a fixed unit price of $1.00 per unit. However, the returns from the Fund are not guaranteed and there are risks involved in the Fund, which may include the following: • The value of an individual investment made by the Fund directly may change or become more volatile, potentially causing a reduction in the value of the Fund and increasing its volatility. • Defaults by borrowers may result in the delay/non-repayment of a loan and delays could occur between a loan going into default and the sale of the underlying security, and may reduce the amount of distributions payable by the Fund. • The Fund’s underlying investments may become ‘illiquid’ in some circumstances, resulting in delays, or at worst, funds may become frozen, and this may impact withdrawals from the Fund. It is expected the Fund may experience an estimated 3 to less than 6 negative returns over a 20 year period (SRM 3 to 6).

Investors seeking Six Monthly liquidity under ordinary circumstances. A four month notice period is required for withdrawals, but they may be processed and paid in a shorter time at the discretion of the Issuer. The four month notice period is in addition to the minimum holding period of two months applying to an initial investment, i.e., investors should be prepared to hold units for at least six months from the date of issue of the units. There is no established external secondary market for the sale of units in the Fund. However, investors may arrange for their own private sale of units with the approval of the Issuer. There is no right for investors to require their units to be purchased either by the Issuer or by any other person, or to have their units redeemed