MLC MKey InvSer/UT Prop Securities Fund

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MLC MKey InvSer/UT Prop Securities Fund

Fund manager

MLC Investments Limited

APIR code

MLC0013AU

S&P Rating

Morningstar Rating™

Platform name

N/A

Product Disclosure Statement

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Fund Facts
Legal structure	Investment Trusts
Fund inception date	17 Feb 1988
Fund objective	The Fund is designed to be a complete portfolio for the Australian property securities asset class, and aims to deliver growth by using investment managers who invest and diversify across many companies and securities within that asset class.
Fund strategy	Invests in MLC Masterkey Unit Trust Property Securities Fund as well as holding cash for liquidity purposes. The underlying fund invests in property securities primarily listed on the Australian Stock Exchange. It is diversified across retail, commercial, hotel, residential, and industrial property sectors. The underlying fund does not hold any direct property investments.
Fund size	$107.50 million (as at 31 Dec 2011 )
Entry price	$0.5523 (as at 08 Feb 2012)
Exit price	$0.5498 (as at 08 Feb 2012)
Valuation frequency	Daily
Cash distribution (cents/unit)	0.0800
Distribution as at date	27 Nov 2011

Fund Performance (as at 31/01/2012) * returns greater than 1 year are annualised
	1 month	3 months	1 year	3 yrs pa*	5 yrs pa*	Since inception pa*
Total return	5.38%	5.05%	-0.14%	8.19%	-12.65%	6.80%
Growth return	5.38%	4.88%	-3.33%	3.22%	-20.88%	-2.49%
Income return	0.00%	0.16%	3.27%	4.74%	9.57%	9.09%
Peer group rank/group size	65 (152)	83 (152)	101 (152)	33 (140)	22 (126)	N/A
Morningstar peer group return	5.11%	5.01%	0.77%	7.97%	-14.30%	N/A
Market return	5.41%	5.33%	1.41%	7.33%	-14.40%	9.80%

Asset Allocation (as at 31/12/2011)
Class	% held
Australian Shares	1.27%
International Shares	1.03%
Cash	2.32%
Listed Property	94.77%
Direct Property	0.00%
Australian Fixed Interest	0.00%
International Fixed Interest	0.00%
Mortgage	0.00%
Other	0.61%
Total	100.00%

Top 10 Holdings (as at 30/09/2011)
Holding	% held
Westfield Group	38.79%
Stockland	11.40%
GPT Group	9.64%
Dexus Property Group	7.66%
Goodman Group	6.72%
Mirvac Group	5.89%
CFS Retail Property Trust	4.14%
Investa Office Fund	3.58%
Charter Hall Grp	3.43%
Commonwealth Property Office Fund	2.24%

Investment Details
Initial investment	$5000.00
Additional investment	$500.00
Redemption amount	$500.00
Regular savings plan	Yes
Standard entry fee	5.00%
2020 entry fee	0.00%
Standard exit fee	0.00%
2020 exit fee	0.00%
ICR pa (31/07/2011)	1.63%
Performance fee	N/A

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Fee Disclosure

2020 DIRECTINVEST may receive a trailing commission ranging from 0.2% - 0.6% pa. This trailing commission is paid by the fund manager and is NOT an additional charge to the investor.