Fund Investment Objective: Investec Australia Property Fund's ("IAPF") strategy is to invest in high quality commercial real estate assets (office, industrial and retail) that are well located in major metropolitan cities or established commercial precincts in Australia and New Zealand. The Responsible Entity has identified the
following objectives for the Fund:

• to grow and diversify the Fund’s asset base with further investments
  offering attractive income and capital growth profiles which will also
  spread investment risk;
• to offer Unitholders sustainable growth in income and capital
  appreciation across a sectorally diversified portfolio; and,
• to maintain a strong corporate governance framework to ensure the
  interests of Unitholders are protected.