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Aspen Diversified Property Fund

Aspen Diversified Property Fund
Rebate 2.40% as additional units
Minimum Investment $10,000
Investment Term CLOSED
Research Zenith Recommended

Investment Objective

To provide stable, tax advantaged income returns, paid monthly, along with capital growth over the long term. The high level of income generated by the Fund is expected to result in consistent overall returns with relatively low volatility.


Investment Strategy
To acquire and expand a portfolio of commercial properties (principally office, retail and industrial) to a minimum value of $250 million over the next 5 years. The Fund seeks properties in the $5m to $30m range that may be overlooked by larger property funds, therefore providing attractive buying opportunities.
 
   
Product Disclosure Statement
Quarterly Update March 2008
A copy of the Fund's Unit Pricing Policy dated 5 March 2008, which includes details of the Limited Withdrawal Facility.
Application Price
   
Fund Structure
ADPF is established as a unit trust, which results in all income and additional tax benefits flowing directly through to Unitholders.

Investment Term
The Fund is an illiquid Fund, that is, there is no provision for redemptions. As such, investors should consider the Fund as a long term investment.

It is the Manager’s intention to make recommendations to security holders seven years from the date of commencement of the Fund, regarding the continuation of the Fund. Such recommendations would include seeking to have the Fund listed on the ASX or disposal of assets and return of capital to investors.


Aspen Group Liquidity Facility
To help investors wishing to sell their holding, Aspen Group has agreed to purchase a minimum of $250,000 worth of ADPF securities per calendar quarter at a 5% discount to the prevailing application price. Full details of the facility are available from the Manager.

Performance

The Fund met forecasts during its first year of operation, making distributions of 8.75 cents per unit and achieving capital growth of 4.93%. This represents a first year total return of 13.7%.

Forecast income distribution for the year ended June 2007 is 8.76 cents per unit per annum , paid monthly, including a forecast average tax deferred component of over 100% p.a.


Manager Profile
The Fund is managed by Aspen Funds Management Limited, a subsidiary of Aspen Group. The directors of Aspen Funds Management have many years experience in corporate management, property investments and management and financial services. Aspen Group is a public company listed on the Australian Stock Exchange with over $500 million of assets under management. Its primary activities are property investment and management, with income derived from direct ownership of commercial property and Funds management fees on investments managed by Aspen Funds Management.

Portfolio Details
 
Asset State Asset Type Book Value
Abernethy Park WA Office $11.5M
Champion Drive Shopping Centre WA Retail $9.3M
Riseley Corporate Centre WA Office $7.7M
Midland Cinema Complex WA Retail $5.5M
Cardno BSD Centre WA Office $5.6M
Trailcraft WA Industrial $9.1M
Mount Street NSW Office $31.0M
Homemaker City NSW Retail $27.0M
Holeproof VIC Industrial $28.0M
Book Value $134.7M



Sector Diversification



Geographic Diversification

Note: This document is issued by Aspen Funds Management Limited ABN 48 104 322 278, AFS Licence 227933. This document provides general information only and is not financial produce advice. You should read the current offer document and if necessary consult a financial adviser before making any investment decisions.

Further information about the Fund can be obtained from Aspen Group by telephoning 08 9220 8400

Simply download an Investment Brochure/PDS above. It’s that easy!
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