ISSUE DATE 19 January 2026
19
Main Factors That Will Have the Most Material Impact on Forecast Distributions Economy of Australia and, in particular, the property market
Risk of Changes on Distributions
Sensitivity Analysis
A downturn in the economy may reduce the value of the security.
GPS reduces this risk by only making loans for a proportion of the security value. Please see the loan-to-value ratios of the loans made by the Fund. There is therefore a margin for reduction of the security value before it will have an impact upon Distributions. GPS reduces this risk by: • Assessing the ability of the builder prior to the loan being made. • Including a contingency amount in the loan budget. • Entering into a multiparty agreement with the builder and Borrower. • Requiring declarations of solvency by the builder with each progress draw. • Only advancing moneys for works actually completed and maintaining cost to complete. GPS reduces this risk by: • Assessing the ability of the Borrower prior to the loan being made. • Including an interest contingency amount in the loan budget. • Maintaining cost to complete for all project costs; and • Undertaking appropriate due diligence on the Borrower’s ability to service all financial obligations under the loan.
in South East Queensland.
Non-completion of construction works
A partly constructed property is difficult to realise and
must generally be realised at a discount.
Capitalisation of interest payments risk
Insufficient funds available to pay interest
ASIC disclosure principle 8 – Withdrawal arrangements The Fund operates as a non-liquid managed investment scheme and cannot guarantee the offer or payment of withdrawals at any particular time. It is GPS’s objective that Withdrawal Offers will be made on a periodic basis (usually monthly), when a Participation in Withdrawal Notice is received prior to 48hrs of the Withdrawal Period. Withdrawal Offers made by GPS (if any) will be made in writing to all Investors, will provide a Withdrawal Request Form and will specify: • the period during which the offer will remain open which will be at least 21 days after the offer is made ( “Offer Period” ); • the assets that will be used to satisfy Withdrawal Requests; • the amount of money that is expected to be available when those assets are converted into cash; and • the method of dealing with Withdrawal Requests if the money available is insufficient to satisfy all requests.
Investors may request written withdrawal of part or all of their eligible Units by giving a notice that must be received no later than 5.00pm AEST on the last business day of the Offer Period. As required by the Act the Withdrawal Requests must be satisfied within 21 days of the end of the Offer Period. No fee is payable for a withdrawal. Note: No withdrawals can be made outside of a periodic Offer Period. If the Fund suffers a loss of capital in its loan portfolio, there may be a reduction in value of the assets in the Fund on which the withdrawal value is based. This may result in a reduced withdrawal price payable to the Investors in the Fund whose withdrawal is being made at the time. Oversubscribed Withdrawal Requests The method for processing oversubscribed Withdrawal Requests in the event a lump sum is offered, is specified in section 601KD of the Act by using the following formula: A x B / C, where: A = Amount of money available;
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