AUI expands property team

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Following Australian Unity Investments’ (AUI) acquisition of the responsible entity for Investa Funds Management Limited’s retail property funds, Mr Mark Lumby, Mr Grant Nichols and Mr Simon Beake will join AUI’s property funds business from Investa.

Following Australian Unity Investments’ (AUI) acquisition of the responsible entity for Investa Funds Management Limited’s retail property funds, Mr Mark Lumby, Mr Grant Nichols and Mr Simon Beake will join AUI’s property funds business from Investa.

Mr Lumby, previously general manager – retail funds at Investa, will move into the newly-created role of head of office and industrial property funds at AUI. He has 18 years experience in funds management including working at Stockland and Trafalgar Corporate Group, where he helped establish and manage Australia’s first geared property security fund.

He holds a bachelor degree in business from the University of Technology, Sydney.

Mr Nichols, who was a fund manager at Investa, will become a property portfolio manager in the AUI property business. He has worked previously for AMP on the then-listed AMP Office Trust, followed by almost eight years with Investa as asset manager and later fund manager.

He holds a bachelor degree in property economics from the University of Technology, Sydney, and a master of applied finance from Kaplan, and is an accredited real estate agent.

Mr Beake, a fund analyst at Investa, will become a senior analyst at AUI. He has worked as both an accountant and analyst for Biwater Group and Cascal Services Limited, involving analysis, financial modelling and arranging acquisition finance.

He holds an honours degree in accounting and finance, and is currently completing a master of applied finance at Macquarie University.

Their main focus will be the Australian Unity Office Property Fund, the Australian Unity Fifth Commercial Trust and the Australian Unity Second Industrial Trust (formerly the Investa Diversified Office Fund, Investa Fifth Commercial Trust and Investa Second Industrial Trust), which became part of AUI’s property funds business on 30 September 2011 following settlement of the acquisition of the responsible entity.

Mr Mark Pratt, AUI’s general manager – property, mortgages and capital markets, said the recruitment not only ensures continuity of management for the funds but adds significant expertise and knowledge to the overall AUI property team.

“Mark, Grant and Simon have been successfully managing the funds for several years, to the benefit of investors.

“Bringing them into the AUI property business adds breadth and depth to our team, and enhances the knowledge and experience we can offer investors.

“AUI continues to look at opportunities to strengthen its property business as well as adding to the property portfolios within its funds,” Mr Pratt said.

Australian Unity Investments is the funds management arm of financial services, health and retirement living services provider Australian Unity. It has over $11 billion in funds under management (as at 31 August 2011).

Australian Unity Investments’ unlisted property funds and syndicates own more than 60 properties in the healthcare, retail and commercial sectors, in Victoria, New South Wales, Queensland, Australian Capital Territory, Western Australia and South Australia.

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For more information please contact:

Mark Pratt – 03 8682 4448

4 October 2011