Private Land and Property Fund Analysis

Overview

The Private Land and Property Fund (Fund) provides investors with an opportunity to obtain an investment exposure primarily in a specialised portfolio of directly held, unlisted, agricultural and horticultural land and other property investments in New Zealand, which may be supplemented with investments in industrial, commercial and retail properties (including land, buildings, bearer plants, and plant and equipment).

The Fund obtains its property exposure by buying units in a separate wholesale property fund managed by Booster – the Private Land and Property Portfolio (Wholesale Portfolio) a fund within the Booster Wholesale Scheme. Details of the property held by the Wholesale Portfolio can be found in the ‘Other Material Information’ document located at www.booster.co.nz

The Fund’s investment objective is to provide investors with a complementary and enhanced risk / return outcome compared to traditional listed property investments.

It aims to generate an average annual long-term return of about 6.5% p.a. (before tax and after all fees, charges and costs) over rolling 7 year periods from a combination of income and capital gain as properties reach full productive capability.

Changes in the valuation of properties due to general property market movements will also impact the return of the Fund but such returns are not the primary objective of the Fund.

The Wholesale Portfolio, in which the Fund invests, may borrow to invest in more property or to develop property already held by the Wholesale Portfolio.

The Fund currently has exposure to over $200 million of property.

The Fund is both listed on the NZX (code: PLP) and a continuous issuer, meaning investors can buy or sell units on the NZX or directly with the Manager.

The Private Land and Property Fund is registered under the Financial Markets Act 2013.

The Manager of the Fund is Booster Investment Management Limited, part of the Booster Group.

The Booster Group has been helping New Zealanders save since 1998. The group currently manages superannuation and investment funds of over $7 billion on behalf of more than 200,000 New Zealanders.

Performance

The Fund publishes a quarterly fund update and a quarterly client update, each of which provide details of the performance of the Fund. These publications are released through the NZX announcement platform, and are available at www.booster.co.nz