Investment objectives

Long-term average annual total return

6.0-7.5%

3.6%

Focused segmentation

·         Investments in Experience & Convenience

> 70%

92.7%

·         Investments in Mixed retail

< 20%

4.5%

Investment restrictions

Invested in single investment property

< 15%

22.9%

Invested in non-core (non-retail) property

< 10%

0.3%

No investment will have a material adverse effect on the Fund's diversification guidelines

0

0

Total (re)development activities shall not exceed 5% of the total value of the portfolio

< 5%

0%

(Re)development restrictions

% of the Fund's total investment portfolio value

<5%

0%

Diversification guidelines

Invested in Experience retail

40-60%

50.0%

Invested in Convenience retail

40-60%

42.7%

Invested in Mixed retail

< 10%

4.5%

Invested in low and medium-risk investments

> 90%

95.8%