The Portfolio Manager

Cohen and Steers Capital Management, Inc.

WWW.COHENANDSTEERS.COM

Cohen & Steers Capital Management, Inc., who has been appointed as the Portfolio Manager to manage and invest the Portfolio, is a highly regarded global investment manager specialising in real assets, including listed infrastructure, real estate securities, natural resource equities, and commodity futures. It was established in 1986, and its parent company was subsequently publically listed on the New York Stock Exchange (NYSE) in 2004 under the ticker CNS and maintains a broad equity ownership among employees which provides continuity of management and investment professionals. The firm has offices in New York, Seattle, London, Hong Kong and Tokyo and global infrastructure analysts averaging 9 years of infrastructure-related investment experience. Cohen & Steers’ size and scale provides access to company management, regulators and other market participants which contributes to its rigorous and disciplined investment process. Its market capitalisation was approximately AUD2.4 billion as of 31 March 2015. Cohen & Steers currently has AUD71.1 billion in funds under management (as of 31 March 2015), including AUD5.7 billion in global listed infrastructure assets (as of 31 March 2015), and its client base includes mutual funds, pension plans, endowment funds and investment companies (including superannuation assets in Australia).

Cohen & Steers manages a variety of Global Listed Infrastructure products, including several US-registered open-end and closed end mutual funds and multiple separate and sub-advised accounts. In addition, Cohen & Steers offers products and services in other real assets investment strategies, including Global and US Real Estate Securities, Natural Resource Equities, MLPs, Active Commodities and a Real Assets Multi-strategy along with Preferred and Large-Cap Value securities.

Cohen & Steers is recognised as among the first US investment managers to specialise in listed real estate, and is a leading investment manager in listed infrastructure, commodities and natural resource equities. Cohen & Steers has won many awards, including:

  • #1 ranked global real estate securities manager based on Assets under Management in 2010;
  • #1 ranked US REIT manager of the year by Institutional Investor in 2012;
  • Asia Asset Management Best of the Best Global Infrastructure Manager (5 year award) in 2011 and 2012;
  • Asia Asset Management Best of the Best Global Infrastructure Manager (3 year award) in 2013; and
  • Asia Asset Management Best of the Best Global Infrastructure Manager (10 year award) in 2014.

In addition, Cohen & Steers’ team members have been recognised for individual awards:

  • Martin Cohen (Executive Chairman) – National Association of Real Estate Investment Trusts Achievement Award in in 2001; and
  • Robert Steers (CEO) – National Association of Real Estate Investment Trusts Industry Leadership Award in 2012.

Portfolio Management Agreement