18 October 2010
Update – Direct Property Portfolio
Dear Investor,
This letter is for your information only and you do not need to take any action.
As an investor in AMP Capital’s Direct Property Portfolio (‘DPP’ or ‘the Fund’), we are writing to remind you that the Fund’s
closed-end term will be ending in June 2011.
What does this mean for my investment in DPP?
DPP will be wound up, which means that the underlying property assets in the fund that DPP holds units in will be sold over time
and you will receive capital payments (i.e. the return of your investment) at different intervals until all the assets are sold. There
is an asset sales program in place, whereby we expect to present assets to the market in an orderly fashion to maximise prices
and obtain the best return for you, the investor. We expect that all of the assets will be sold and capital returned by the end of
2012.
The Fund will also be using the proceeds from asset sales to pay down the debt within the Fund, which is approximately 25%.
Does this affect my income payments?
You will continue to receive regular income payments every six months up until the last property is sold. However, as more
properties are sold and your investment is returned to you, the amount of income will gradually decrease as there will be fewer
and fewer properties in the portfolio.
Now may be a good time to start thinking about what you will do with the capital that is returned to you and your income needs.
What if I still want an investment that pays regular income?
AMP Capital offers a range of investments, including property funds, that distribute income payments. For more information,
please go to our website www.ampcapital.com.au or call us on 1800 188 013. Alternatively, please talk to your financial
adviser to discuss your individual needs.
Further information
If you have any questions about DPP, please contact our Client Services Team on 1800 188 013.
Yours sincerely,
Ben Harrop
Head of Retail Distribution
AMP Capital Investors
Important note. Neither AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232 497), nor any other company in the AMP Group
guarantees the repayment of capital or the performance of any product or any particular rate of return referred to in this document. Past
performance is not a reliable indicator of future performance. While every care has been taken in the preparation of this document, AMP Capital
Investors makes no representation or warranty as to the accuracy or completeness of any statement in it including, without limitation, any
forecasts. This document has been prepared for the purpose of providing general information, without taking account of any particular investor’s
objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the
information in this document, and seek professional advice, having regard to the investor’s objectives, financial situation and needs.