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Translator
PDS Update
Information about the Offer in the PDS may change from time to time, if the change is not materially adverse to Investors and the RE wishes to provide that information to investors, then the RE will make such information available on this web page.
Section 13 of the PDS
In Section 13, Quantum Group means companies owned by Quantum Group Holdings Pty Ltd ACN 059141 632 and Quantum Holdings Services Pty Ltd ACN 140 595 400
Section 6.2 of the PDS
In Section 6.2 words reading “Group Holdings” should read “Holding Services” and words in diagram, first box should be “Quantum Group”.
Section 6.2.3 of the PDS
Steven Betts has replaced Ryan Jones at the Financial Controller for Quantum Group.
Benjamin Dillon has replaced Peter Gribble as Chairman of the RE.
Sections 3.3.7, 3.13 and the Application Form accompanying the PDS – Applications
As indicated on the Application Form accompanying the PDS at 14.4.2, the Fund accepts application moneys for units in the Fund in AUD and USD. The Fund will continue to accept application moneys in AUD and USD and will publish the monthly issue price both in AUD and USD. The exchange rate that will be used for the conversion will be the wholesale AUD:USD exchange rate issued by the National Australia Bank at closing time on the relevant date (being the last business day of each month).
Section 3.9-Distributions
Timings
Initially the RE intends to pay distributions to Investors half yearly, usually at the end of June and December each year, for the first three years of the Fund’s life and thereafter the RE intends to pay distributions on a quarterly basis.
The RE has decided to pay distributions quarterly, March, June, September, and December each year, from the 30th June 2012.
Currency
As indicated on the first page of the Application Form accompanying the PDS, Investors may nominate to receive distributions in either AUD or USD. The Fund wishes to advise all Investors that this nomination may now be changed each quarter in respect of any distribution to be paid at the end of the relevant quarter (if any), provided that:
1. the nomination is given in writing to the RE by no later than the day falling 10 days prior to the last day of the quarter;
2. the Investor has given in writing to the RE accurate and complete details of a bank account in the Investor’s name in the relevant currency corresponding to the nomination; and
3. the RE has satisfied itself in relation to any AML/CTF identification and verification requirements relating to any nominated account, in its discretion.
All such communications to the RE should be delivered to
Quantum Funds Management Ltd
GPO Box 2593,
SYDNEY NSW AUSTRALIA 2011
or sent by facsimile to + 61 2 8823 5281.
Until such time as a nomination provided by an Investor meets the requirements set out in 1 to 3 above, the RE is entitled to pay distributions to an Investor in accordance with the Investor’s prior written and proper nomination.
Section 3.8.1-Expected Borrowing Level
The PDS stated that the RE proposed that the “look through” borrowings initially of the Fund will not exceed 80%, The RE has decided to reduce the upper limit of the REIT Expected Borrowing Level to be no higher than 60%.
Definition “REIT Expected Borrowing Level” means up to 60% of the value of the Property, as described in Section 3.8.1
Quantum Funds Management Limited AFSL # 237301 is the responsible entity ("RE") of the Quantum USA Residential Property Fund (the Fund) ARSN 150 434 138 and is the issuer of the Product Disclosure Statement (PDS), dated 5th May 2011. You will only be able to apply to participate in the Fund by completing an application form which will accompany the PDS.
Neither the RE, nor any of its related entities, directors or officers makes any promise or representation, or gives any guarantee as to the success of the Fund, the amount of distributions that may be paid, the amount an Investor will receive on redemption, any particular rate of income or capital return or the taxation consequences of investing in the Fund. Investors should not invest in the Fund unless you understand and are comfortable with the risks of investing in the Fund (including with respect to the risks of investing in leveraged property). You should carefully consider all of the risks in light of your investment objectives, financial situation and particular circumstances (including taxation and financial issues) and seek independent financial advice from your financial adviser or other professional adviser before deciding whether to invest in Units in the Fund.
Printed copies of this PDS and an Application Form are available free of charge during the offer period to persons in Australia by calling 1300 360 949. The PDS is also available to download via this web site (at www.quantum-re.com) for Australian investors and certain types of investors in select jurisdictions. If the PDS has been accessed electronically, it must be downloaded in its entirety (including the Application form). If you wish to make an application for Units in the Quantum USA Residential Property Fund, you must complete and mail or deliver your original Application Form to Quantum. As the Offer is only available outside Australia to certain types of investors in select jurisdictions (see "Offer in Other Jurisdictions" under "PDS Update"), applications made by persons in those select jurisdictions must include a confirmation and warranty by those persons that they are the specific type of professional investor in that relevant jurisdiction. In addition, licensed advisors and registered institutions (as relevantly defined) in those select jurisdictions may also download the PDS. The RE will not accept any application from a person living in the United States of America (the USA) or from any person in any jurisdiction where the Offer under this PDS to such person would not be in compliance with the laws of that jurisdiction.
YOU SHOULD ONLY RELY UPON THE INFORMATION CONTAINED IN THE PDS TO MAKE AN INVESTMENT IN THE FUND.