Private Land and Property Fund — Fund Information / Factsheet 2021

Feb 15, 2021

Booster Investment Scheme 2 Private Land and Property Fund

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Fund Update

For the quarter ended 31 December 2020

This fund update was first made publicly available on 15 February 2021

What is the purpose of this update?

This document tells you how the Private Land and Property Fund has performed and what fees were charged. The document will help you to compare the fund with other funds. Booster Investment Management Limited prepared this update in accordance with the Financial Markets Conduct Act 2013. This information is not audited and may be updated.

Description of this fund

The Booster Private Land and Property Fund investment objective is to provide investors with a complementary and enhanced risk/return outcome compared to traditional listed property investments. It may borrow to invest in more land and properties or to develop land and properties already held by the fund.

Total Value of the Fund	$56,467,916
The date the fund started	7 January 2019

What are the risks of investing?

Risk indicator for the Private Land and Property Fund[1] :

The risk indicator is rated from 1 (low) to 7 (high). The rating reflects how much the value of the fund's assets go up and down. A higher risk generally means higher potential returns over time, but more ups and downs along the way.

To help you clarify your own attitude to risk, you can seek financial advice or work out your risk profile at https://www.sorted.org.nz/tools/investor-kickstarter

Note that even the lowest category does not mean a risk-free investment, and there are other risks not captured by this rating.

This risk indicator is not a guarantee of a fund's future performance. The risk indicator is based on returns data for the five years to 31 December 2020. While risk indicators are usually relatively stable, they do shift from time to time. The risk indicator will continue to be updated in future fund updates.

See the product disclosure statement (PDS) for more information about the risks associated with investing in this fund.

Booster Investment Scheme 2 Private Land and Property Fund

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How has the fund performed?[2]

How has the fund performed? 2
	Past Year
Annual return	4.80%
(after deductions for charges and tax)
Annual return	5.75%
(after deductions for charges but before tax)
Market index annual return	Not applicable
(reflects no deduction for charges and tax)

What fees are investors charged?

Investors in the Private Land and Property Fund are charged fund charges. In the year to 31 March 2020 these were:

	% of Net Asset Value
Total fund charges3	4.17%
Which are made up of:
Total management and administration charges	4.17%
Including:
Manager's basic fee	1.00%
Other management and administration charges4	3.17%
Total Performance-based fees	0.00%
Other charges	Dollar amount per investor
Member Fee	$0.00

Investors may also be charged individual action fees for specific actions or decisions (for example, for withdrawing from or switching funds). See the Booster Investment Scheme 2: Private Land and Property Fund PDS for more information about those fees.

See the product disclosure statement for more information about the basis on which performance fees are charged.

Small differences in fees and charges can have a big impact on your investment over the long term.

Example of how this applies to an investor

Ruby had $10,000 in the fund at the start of the year and did not make any further contributions. At the end of the year, Ruby received a return after fund charges and tax were deducted of $480 (that’s 4.80% of her initial $10,000). Ruby also paid $0.00 in other charges. This gives Ruby a total return after tax of $480 for the year.

What does the fund invest in?

Actual Investment Mix

This shows the types of assets that the fund invests in.

Target Investment Mix

This shows the mix of assets that the fund generally intends to invest in.

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17.49% Cash and cash equivalents
100.0% Unlisted property
82.51% Unlisted property
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Booster Investment Scheme 2 Private Land and Property Fund

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Top 10 Investments[5]

Top 10 Investments5
Name	% of fund net assets	Type	Country	Credit Rating (if applicable)
2624 State Highway 10, Kerikeri, Northland	27.72%	Unlisted Property	NZ
NZ Cash (BNZ Bank Trust Account)	23.27%	Cash and cash equivalents	NZ	AA-
206 Upton Downs Road, Seddon, Marlborough	16.42%	Unlisted Property	NZ
Maraekakaho Road, Hastings, Hawke's Bay	14.08%	Unlisted Property	NZ
75 Barewood Road, Seddon, Marlborough	13.44%	Unlisted Property	NZ
416 Main Road, Hope, Nelson	9.38%	Unlisted Property	NZ
243 Old Coach Road, Mahana, Nelson	6.95%	Unlisted Property	NZ
288 Ranzau Road, Hope, Nelson	6.51%	Unlisted Property	NZ
57 Appleby Highway, Hope, Nelson	4.40%	Unlisted Property	NZ
71 Lansdowne Road, Appleby, Nelson	3.76%	Unlisted Property	NZ

The top 10 investments make up 125.93%[6] of the fund.

Key personnel

This shows the directors and employees who have the most influence on the investment decisions of the fund.

Name	Current Position	Time in current position	Previous or other position	Previous or other position	Time in previous or other position
David Beattie	Principal, Booster Financial Services Limited	2 years, 7 months	CIO, Booster Financial Limited	Services	17 years, 6 months
Nic Craven	Senior Manager - Research, Booster Financial	2 years, 7	Research Manager,	Booster	4 years, 2
	Services Limited	months	Financial Services Limited		months
Allan Yeo	Managing Director, Booster Financial	22 years, 7	Associate Director,	Barclays	19 years, 10
	Services Limited	months	Bank plc		months
Brendon Doyle	Director, Booster Financial Services Limited	3 years, 11 months	Deputy Secretary, Operations, New Treasury	Financial Zealand	1 year, 1 month
Paul Foley	Executive Chairman, Booster Financial Services Limited	2 years, 2 months	Director, Booster Services Limited	Financial	6 years, 9 months

Further Information

You can also obtain this information, the PDS for the Private Land and Property Fund , and some additional information - from the offer register at https://disclose register.companiesoffice.govt.nz/

Notes

1 Because the fund has been operating for less than 5 years, the risk indicator has been calculated using market index returns for the period 1 January 2016 to 31 January 2019 and actual returns for the period of 1 February 2019 to 31 December 2020. As a result, the risk indicator may provide a less reliable indication of the potential future volatility of the fund.

2 The Fund’s performance will not be benchmarked against a market index return, as no appropriate security index or suitable peer group index has been identified that the Manager considers would be useful to investors when assessing the performance of the assets in the Fund. This is due to the nature of the Fund’s investment strategy, being to primarily invest in unlisted direct property assets in New Zealand. - For further information, refer to the “Market Index” document on the offer register at https://disclose register.companiesoffice.govt.nz/

Booster Investment Scheme 2 Private Land and Property Fund

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Notes (cont.)

3 Total fund charges are charged as a percentage of an investor's interest in the fund (i.e. as a percentage of their account balance). GST is not included in any of the fees stated and will be added where required.

4 Other management and administration charges includes the fund’s proportionate share of the property operating expenses incurred as a result of investing into the Booster Investment Scheme Private Land and Property Portfolio, a fund also managed by Booster Investment Management Limited (the ‘Wholesale Fund’). These are the direct costs of ownership and operating the individual properties of the Wholesale Fund. This includes but not limited to, rates, insurance, crop growing costs, repairs and maintenance, valuations, depreciation, other property related costs and associated professional fees. For the year ended 31 March 2020, the property operating expenses were 3.17% of the net assets of the fund. The property operating costs for the year ending 31 March 2021 may be materially different to the costs incurred in the year ended 31 March 2020.

5 The Private Land and Property Fund does not directly invest in the property assets but gains exposure to these assets by holding units in the Wholesale Fund, which holds the direct property assets listed in the Top 10 Investments table.

6 The investment objective and strategy of the Wholesale Fund, allows the fund to borrow to invest in more land and properties or to develop land and properties already held by the Wholesale Fund. The top 10 investments does not reflect the borrowing that the Wholesale Fund has undertaken in respect of the properties held. For further information the Wholesale Fund, please refer to the Private Land and Property Fund PDS and Other Material Information document.