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Aspen Parks Property Fund

Aspen Parks Property Fund is an unlisted property fund established in July 2004 to invest in the holiday and accommodation park industry. Over its seven year life, the Fund has established a strong brand and portfolio of 24 quality parks in premium locations around Australia with gross assets of over $280 million.

The park industry was identified by Aspen Group as having all the hallmarks of a successful property investment with its diverse land locations, robust income streams and capital growth potential. Aspen Parks was created to take advantage of an expanding industry undergoing rapid transformation from the humble caravan park, to a multi-faceted accommodation facility catering to a variety of clientele, including tourists, long-term residents, and mining personnel.

Aspen Funds Management Limited, a subsidiary of Aspen Group manages the Fund, drawing on the property investment and management experience of the Group. Aspen Group is also a cornerstone investor in the Fund.

For further details on the holiday parks that make up the assets of the Aspen Parks Property Fund visit the
Aspen Parks website.

Zenith Investment Partners - Recommended
- disclaimer -		 Lonsec Recommended (Upper End)
- disclaimer -		 Independent Assessment by Adviser Edge
- disclaimer -

Continuous Disclosure Documents (RG198)

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Lonsec Disclaimer  -  The Lonsec Limited ("Lonsec") ABN 56 061 751 102 rating (assigned June 2011 presented in this document is a -class service|| (as defined in the Financial Advisers Act 2008 (NZ)) or is limited to -General Advice|| and based solely on consideration of the investment merits of the financial product(s). It is not a recommendation to purchase, sell or hold the relevant product(s), and you should seek independent financial advice before investing in this product(s). The rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria.

Adviser Edge Disclaimer  -  Adviser Edge is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. Information contained in this document attributable to Adviser Edge must not be used to make an investment decision. The Adviser Edge rating is valid at the time the report was issued, however it may change at any time. While the information contained in the rating is believed to be reliable, its completeness and accuracy is not guaranteed. The Adviser Edge star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. Only licensed financial advisers may use the Adviser Edge star rating system in determining whether an investment is appropriate to a person's particular circumstances or needs. You should read the product disclosure statement and consult a licensed financial adviser before making an investment decision in relation to this investment product.

Zenith Disclaimer  -  Zenith Investment Partners Pty Ltd (Zenith) is the holder of AFSL No. 226872. The Zenith rating does not take into consideration personal circumstances, objectives or needs and should not be relied on in isolation - please refer to the full research report (available from the Issuer) for important assumptions, warnings and risks. Rating expires the earlier of 20 June 2012 or on any material changes to the Fund. For further information see www.zenithpartners.com.au

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