PLP – Fund Update 30 June 2020

Booster Investment Scheme 2
Private Land and Property Fund

Fund Update
For the quarter ended 30 June 2020
This fund update was first made publicly available on 28 July 2020

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. Through its exposure to the Booster
Investment Scheme – Private Land and Property Portfolio (the “Wholesale Fund”) the Fund may be geared to invest in
more Property or to develop Property already held by the Wholesale Fund.


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 March 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.





Total Value of the Fund $44,969,571
The date the fund started 7 January 2019

Booster Investment Scheme 2
Private Land and Property Fund

How has the fund performed?
2


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:

Investors may also be charged individual action fees for specific actions or decisions (for example, for withdrawing from or
switching funds). See the 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
Christopher 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, Christopher received a return after fund charges and tax were deducted of $646 (that’s 6.46% of his initial $10,000).
Christopher also paid $0.00 in other charges. This gives Christopher a total return after tax of $646 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.
3.91% Cash and cash equivalents
96.09% Unlisted Property
100% Unlisted Property

Past Year
Annual return 6.46%
(after deductions for charges and tax)
Annual return 7.62%
(after deductions for charges but before tax)
Market index annual return Not applicable
(reflects no deduction for charges and tax)

% of Net Asset Value

Total fund charges
3
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 charges (estimated)
4
3.17%
Total Performance-based fees 0.00%

Other charges
Dollar amount per investor
Member Fee $0.00

Booster Investment Scheme 2
Private Land and Property Fund

Top 10 Investments
5


The top 10 investments make up 132.15%
6
of the fund.

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


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

Notes
1
The risk indicator has been calculated using a mix of actual returns of the wholesale fund, the Private Land and Property
Portfolio, for the period of 1 July 2017 to 31 March 2020, and historical returns obtained from the Property Council/IPD
New Zealand Property Index for the period of 1 January 2015 to 30 June 2017. 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/

Name
% of fund
net assets
Type Country
Credit Rating
(if applicable)
2624 State Highway 10, Kerikeri, Northland 34.61% Unlisted Property NZ
206 Upton Downs Road, Seddon, Marlborough 19.86% Unlisted Property NZ
Maraekakaho Road, Hastings, Hawke's Bay 16.80% Unlisted Property NZ
75 Barewood Road, Seddon, Marlborough 16.49% Unlisted Property NZ
416 Main Road, Hope, Nelson 12.34% Unlisted Property NZ
243 Old Coach Road, Mahana, Nelson 8.41% Unlisted Property NZ
288 Ranzau Road, Hope, Nelson 7.82% Unlisted Property NZ
57 Appleby Highway, Hope, Nelson 5.58% Unlisted Property NZ
NZ Cash (BNZ Bank Trust Account) 5.52% Cash and cash equivalents NZ
71 Lansdowne Road, Appleby, Nelson 4.72% Unlisted Property NZ
Name Current Position
Time in current
position
Previous or other position
Time in previous
or other position
David Beattie
Principal, Booster Financial Services
Limited
2 years, 1 month
CIO, Booster Financial Services
Limited
17 years, 6
months
Nic Craven
Senior Manager - Research, Booster
Financial Services Limited
2 years, 1 month
Research Manager, Booster
Financial Services Limited
4 years, 2
months
Allan Yeo
Managing Director, Booster Financial
Services Limited
22 years, 1
month
Associate Director, Barclays
Bank plc
2 years
Brendon Doyle
Director, Booster Financial Services
Limited
3 years, 4
months
Deputy Secretary, Financial
Operations, New Zealand
Treasury
1 year, 1 month
Paul Foley
Executive Chairman, Booster Financial
Services Limited
1 year, 8 months
Director, Booster Financial
Services Limited
6 years, 9
months

Booster Investment Scheme 2
Private Land and Property Fund

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 financial year ending 31 March 2021 are
expected to be materially different from those charged to 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.