ELAR RETA

Elanor Retail Property Fund is an Australia-based externally managed real estate investment fund. The Fund invests in the non-discretionary retail-based neighborhood and sub-regional shopping centers. The Fund's objective is to provide investors with growing income returns, and capital growth. The Fund's investment strategy includes investment in supermarket-anchored centers that provide earnings from a convenience-based tenant mix; implement leasing, development and repositioning strategies, and other active asset management initiatives to grow the income and value of the centers; acquire an additional investment in supermarket-anchored centers, and optimize the capital structure of the Fund based on a conservative approach to gearing. The Fund's investment property portfolio consists of approximately four retail shopping centers in Australia. The Fund's investment manager is Elanor Funds Management Limited.