Multiplex Prime Property Fund (MAF)

Shares / Stock Code

MAF

Stock Exchange / Sharemarket

ax

Multiplex Acumen Prime Property Fund (MAF) is a property trust, which owns a portfolio of CBD office assets located in Sydney and Melbourne. The portfolio includes a 100% interest in the new American Express Building and 50% interest in Ernst & Young Centre in Sydney; and a 25% interest in Southern Cross Tower and 100% in Defence Plaza in Melbourne. The responsible entity of MAF is Multiplex Capital Limited. Multiplex Acumen Prime Property Fund was listed on the Australian stock market in 15 September, 2006. Investors can trade shares on the Australian Stock Exchange (ASX).

The Multiplex Group is one of Australia’s largest development, construction, facilities management and funds management business. It was originally founded in 1962 by John C Roberts AO as Multiplex Constructions Pty Ltd, and currently has operations in Australia, the UK, New Zealand and the Middle East. Revenue is diversified geographically and extends across commercial, retail, industrial and residential property sectors. It is purchased by Brookfield Asset Management (BAM) on 1 January 2008.

Upon the completion of the American Express Building in January 2008, the Fund will have a direct portfolio of substantially new A-grade office properties. This indicated the Fund’s position to capitalise on the continuing strength of the Sydney and Melbourne CBD markets. The Fund’s fee structure also compares favourably with its peers.

The Fund competes with against other financial diversified trusts, which focus on capital property growth in the office sector. The major tenants for the Fund are Ernst & Young, the Victorian Government, the Commonwealth Government and American Express. The main competitors include Westfield Group, Macquarie Goodman and GPT Group.