AMP AIT International Shares No. 5

Mint believes the New Zealand and Australian listed property security markets are inefficient and regularly exhibit ‘mis-pricing’ and failure to fully factor in underlying company or trust fundamentals. CBRE GRES is a real estate fund manager that seeks to identify under-valued securities with strong management that offer secure income and the potential for superior risk-adjusted returns. CBRE GRES combines top-down macro economic trends with bottom-up stock analysis, capitalizing on the vast direct property resources it has within the group. CBRE GRES will take concentrated positions at the stock, sub-sector, country and regional level when additional risk will be more than compensated by extra expected return. The CBRE GRES portfolio is expected to be broadly diversified across sectors and countries and hold between 50-75 stocks.