PLP – Fund Update

Booster Investment Scheme 2
Private Land and Property Fund


Fund Update
For the quarter ended 31 December 2022
This fund update was first made publicly available on 13 February 2023

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. It may borrow to invest in more land and properties or to develop land and
properties already held by the fund. The Private Land and Property Fund invests in primarily agricultural and horticultural land and
property-based investments by investing in units in Booster’s wholesale fund, the Private Land and Property Portfolio (Wholesale
Portfolio). The fund only holds unit in the Wholesale Portfolio, and potentially some cash.

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
December 2022. 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 $125,213,338
The date the fund started 7 January 2019

Booster Investment Scheme 2
Private Land and Property Fund


How has the fund performed?

There is no appropriate market index and no suitable peer group index for the fund against which to assess either movements in the
market in relation to the returns from the assets in which the fund invests or the performance of the fund as a whole. Please see the Other
Material Information document, available at www.booster.co.nz/plpf for more information.

What fees are investors charged?
Investors in the Private Land and Property Fund are charged fund charges. In the year to 31 March 2022 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 Booster Investment Scheme 2: 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
Ruby 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, Ruby received a
return after fund charges and tax were deducted of $1,205 (that’s 12.05% of her initial $10,000). Ruby also paid $0.00 in other charges.
This gives Ruby a total return after tax of $1,205 for the year.
What does the fund invest in?
4

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.
1.77% Cash and cash equivalents
98.23% Unlisted property
100.0% Unlisted property

Past Year
Annual return 12.05%
(after deductions for charges and tax)
Annual return 12.80%
(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
2
1.11%
Which are made up of:
Total management and administration charges 1.11%
Including:
Manager's basic fee
3
1.00%
Other management and administration charges 0.11%
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

The top 10 investments make up 96.21%
5
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 Booster Investment Scheme 2: Private Land and Property Fund, and some additional
information from 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 18.42% Unlisted property NZ
86 Hukatere Road Pukenui, 189 Henry Road Katikati,
579 Wharerata Road Patutahi, and 5117 Far North Road
Ngataki
14.63% Unlisted property NZ
5 Chewings Road, Mossburn 9.38% Unlisted property NZ
206 Upton Downs Road, Seddon, Marlborough 9.19% Unlisted property NZ
16 Chewings Road, Mossburn 9.16% Unlisted property NZ
Waimea West Hops Limited 7.81% Unlisted property NZ
75 Barewood Road, Seddon, Marlborough 7.80% Unlisted property NZ
2316 Orepuki Riverton Highway, Pahia 7.62% Unlisted property NZ
Maraekakaho Road, Hastings, Hawke's Bay 7.05% Unlisted property NZ
416 Main Road, Hope, Nelson 5.15% Unlisted property NZ
Name Current Position
Time in current
position
Previous or other position
Time in previous
or other position
Nic Craven
Chief Investment Officer, Booster Financial
Services Limited
1 year, 5 months
Senior Manager - Research,
Booster Financial Services
Limited
3 years, 2
months
Duncan
Wylie
GM-Strategic Development, Booster
Financial Services Limited
5 years, 11
months
GM Corporate Development,
Todd Corporation
1 year, 1 month
Allan Yeo
Managing Director, Booster Financial
Services Limited
24 years, 7
months
Associate Director, Barclays
Bank plc
2 years
Brendon
Doyle
Director of Direct Investments, Booster
Financial Services Limited
5 years, 11
months
Deputy Secretary, Financial
Operations, New Zealand
Treasury
1 year, 1 month
Paul Foley
Executive Chairman, Booster Financial
Services Limited
4 years, 2
months
Director, Booster Financial
Services Limited
6 years, 9
months

Booster Investment Scheme 2
Private Land and Property Fund


Notes
1 Because the fund was establish in January 2019, the risk indicator has been calculated using actual returns of the Wholesale Portoflio
(which has been in existence or longer than the Fund) for the period of 1 January 2018 to 31 January 2019; and actual returns for the
period of 1 February 2019 to 31 December 2022. As a result, the risk indicator may provide a less reliable indication of the potential future
volatility of the fund.
2 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.
3 The management fee covers Booster's administration and investment management fees, the Supervisor's fee and the regular costs and
expenses of running the Scheme (such as audit fees and legal fees).
4 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.
5 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 and Other Material Information document.