The Sub-Fund's investment objective is to achieve a return in excess of the long-term return for direct based investment portfolios in real estate. It will be pursued by a strategy of investing in listed equity securities and equity-related securities (such as real estate investment trusts (REITs)) of public companies that own top tier real estate properties in the world's major cities. The investment strategy offers exposure to prime global real estate assets by targeting investments in entities that have 75% of their gross asset value in major cities and are invested over 50% in prime real estate assets. The Sub-Fund pursues three interrelated investment objectives: affording exposure to world class property assets that are unavailable or otherwise difficult to access in the private, direct market; allowing diversification over a large pool of locations, property types and management teams; and offering the potential for attractive risk-adjusted returns in a highly liquid market.