Private Land and Property Fund Analysis

Overview

The Private Land and Property Fund provides investors with an opportunity to obtain an investment exposure to a portfolio of primarily directly held, unlisted, agricultural and horticultural land and other property investments in New Zealand.

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 8% (before tax and after all fees, charges and costs) over rolling 7 year periods from a combination of income distributions and capital growth.

The Fund currently manages $50 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 $3 billion on behalf of more than 100,000 New Zealanders.

Performance

While returns of the Private Land and Property Fund (Fund) have been 8% on an annualised basis over the two year period to

31 March 2024, and 8.8%p.a. since inception (after fees and tax), the past quarter and year have both been moderately negative,

due to a below average grape harvest expected this year and lower valuations on some properties - mainly on the kiwifruit

orchard in Kerikeri and avocado orchard investments earlier during the year.