Funds Management

Bensons Funds Management was established to provide external investors with the opportunity to access the extensive property development and investment expertise of Bensons Property Group.

The Bensons team has considerable skills and experience in every aspect of real estate, including due diligence, investment, management, finance and development. The success of our business comes from our strong external relationships, the accumulation of knowledge, the execution of clearly defined strategies and delivering value to investors.

Through its strong network of industry contacts and partners, Bensons has ongoing access to numerous on and off-market investment opportunities. This facilitates Bensons Funds Management's ability to source and acquire assets at various stages of their investment life cycle.

Bensons Funds Management plans to establish a range of unlisted property investment and development funds with a total return focus.

Bensons Funds Management Limited (ACN 121 715 937) is the holder of Australian Financial Services License No. 306326.

Bensons Retail Strip Property Fund (BRSPF)

The Bensons Retail Strip Property Fund was the first fund established in November 2006. This is an unlisted fund for wholesale investors, which will invest in strip retail properties in Australia.

Bensons believes that there are significant opportunities to add value to many strip retail properties that may be either poorly leased or underutilizing the total site area. BRSPF will leverage off Bensons’ entrepreneurial skills and experience in retail and mixed use projects to source and add value to strip retail properties.

As at 30 June 2008, the Fund had acquired 13 properties with an end value of over $130 million.

Investors wishing to obtain of the current Information Memorandum in respect of the Fund should contact the Fund Manager, Robert Dicintio

telephone: 03 8602 0800

email: robert.dicintio@bensonsgroup.com.au

Bensons Urban Residential Fund (BURF)

Bensons Funds Management has continued to expand its business with the establishment of the Bensons Residential Urban Fund in June 2007. BURF is an unlisted, total return fund for wholesale investors.

The primary focus of BURF is the development and ownership of medium and high density residential projects in the major capitals and strong regional centres along the eastern seaboard.

•    Residential is the largest property sector in Australia, but there have been limited opportunities for institutions to invest in a diversified portfolio with professional management.
•   The target is to develop BURF into the largest institutional owner of res idential apartments in Australia.
•   The initial focus is on value-added or development opportunities that target internal rates of return commensurate with ‘Development’ or ‘Core Plus’ Funds.
•   BURF will utilise the established expertise of Bensons Property Group in the inner suburban and urban renewal, medium/high density residential sector.

The Fund is targeting above benchmark returns through:
•   A focus on value-added opportunities; and
•   Professional portfolio management that will drive economies of scale in terms of lower property management fees, transaction costs, maintenance and capital expenditure, debt funding costs and lower vacancy rates.

As at 30 June 2008, BURF had acquired 31 completed residential apartments and a development site for the construction of more than 100 additional apartments. The Fund is actively sourcing further opportunities.

Investors wishing to register an investment interest in BURF should contact Trevor Marriott.

telephone: 03 8602 0800

email: trevor.marriott@bensonsgroup.com.au