• How the global economy is impacting investment markets
• Worldwide growth – where should investors be looking?
• What are the trends in emerging markets?
• Key trends and market drivers in global investment market?
• What is the nature of economic risks in the 21st century?

• Educating investors on smarter asset allocation
• Will global REITs continue to outperform?
• Impact on yield, asset enhancement, potential tenancy
  revamp or financial structuring
• Analysing the declining focus on direct investments
• Key factors influencing a switch from direct to indirect
  investment
• Property sector mix: predicting the optimal allocation
• Level of risk tolerance and transparency demanded

• Relative performance of the current market
• Innovations in real estate investment strategies and vehicles
• The answer to the shrinking supply of investments
• Strategies for future growth offshore
• How are major investors gaining exposure to offshore
  investments?

• What is the current investor appetite for global REITs?
• Key assessment criteria for real estate investments
• The advantages of indirect vs. direct property investment
• Ensuring property investments meet investment objectives
  and risk profiles
• Where are the large institutional investors putting their equity?
• Comparison between listed securities, unlisted property
  funds and REIT structures

• Where are the international pension funds shopping?
• Do liquidity benefits of listed property funds outweigh nonlisted
  private equity funds?
• Where are the highest returns?
• What are the new growth sectors by region, industry and
  asset class?
• How are returns enhanced by offshore investments?

• The emergence of Asian REITs
• A snap shot of the regulatory and tax regimes in the key
  Asian REITs markets
• Trends and future market developments across the region

• Forecasted performance over the next 3 – 5 years
• Should investors allocate to LPTs or global funds in order to
  maximise their tactical returns?
• Can the Australian LPT compete in terms of returns beyond
  the short term?

• Why the increased demand for growth has resulted in
  international investments
• Stapled entities and identifying growth through sustainable
  business income streams
• Managing risks to provide growth

• Westscheme’s approach to investing
• The role of real estate in Westscheme’s portfolio
• Thinking creatively about real estate
• The outcome of Westscheme’s real estate investments

• Worldwide growth – where should investors be looking
• Opportunities in the global real estate market for investors
• Demand for a global real estate financier
• The advantage of being a global real estate financier

• Where are the strongest international markets?
• Investment methodologies and structures
• Main sources of funding, financing, investments?
• Portfolio construction decisions and trends
• Direct, co-investment, listed, unlisted-how to choose?
• How global private equity markets are changing
• Recurrent mistakes in offshore private equity investments

• Which markets hold the most attractive alternative
  opportunities: hotels, leisure, healthcare, business parks,
  forestry etc
• What opportunities are available and how can investors
  access them?
• Establishing the true value of “alternative” assets – the need
  for effective valuations
• Managing risk involved with “alternative” real estate
  investments

Roundtable 1: The next steps for Australian LPTs –
investing in cross border REITs?
Led by: Milton Cheng, Partner, Baker & McKenzie, Hong Kong

Roundtable 2: The impact of Global Warming on Real Estate Investments -
Led by: Bob Kelly, Managing Director, Eureka Funds Management

• How to gain access to these market
• What are the fastest growing sectors?
• Key drivers behind the rising economies
• What are the potential returns for foreign investors?

• Where are the best opportunities in the market?
• Expanding investments through joint ventures
• Who are the key players in the market?
• What regulatory reforms are required to spur the market?

• How attractive are the markets in China, Japan, Korea,
  Singapore, Hong Kong
• Identifying the appropriate business models
• Identifying investment sources
• Overcoming legal and regulatory issues
• Leveraging existing networks

• Do big opportunities still existed in this developed market
• What makes this market so attractive?
• How are US REITs performing compared to other markets?
• How to ensure investments are tax effective for Australians
  investors

• What are the risks associated with investing into a new market
• Tax implications for returns on indirect and direct UK property
  investment
• The economic and social implications of property investment
  in this region
• Where will the smart money invest first?

Sponsored by

The global REIT team of Baker & McKenzie, pioneers and acclaimed experts in the Asia Pacific, European and US REIT markets will share with you their experience and in-sight on the international investment environment for real estate from the angle of cross-border investors.
Issues covered will include exchange control, cash flow, tax and other structuring issues. We will also consider alternative exit vehicles to REIT listings. This highly interactive Masterclass will draw on a number of recent case examples that Baker & McKenzie has worked on worldwide.

Topics to be covered in the half-day

Masterclass include:

• What next for the Australian LPT market?
  – Investing in overseas real estate markets
  – Geographical market analysis and intelligence
• The Asian REIT debate
  – To list in Hong Kong or Singapore?
  – Demystifying the Chinese market and investment
  opportunities
• Accessing the North American real estate markets
  – The unique aspects of the market and investment
  opportunities
  – Learn what the pioneers have achieved
• The countdown to the new European REIT market
  – Strategies for capitalising on the European REIT market

This Masterclass is designed to provide a theoretical and practical framework for investors, REIT and LPT managers and property groups to access the global REIT market.

About Baker & McKenzie

Baker & McKenzie provides sophisticated legal advice and services to the world’s most dynamic global enterprises and has done so for more than 50 years. Whether working as a local or cross border team, their dedicated Asia Pacific REITs team covers all aspects of REITs transactions from property due diligence, capital raising to tax and financing issues. They are creative problem solvers who can be relied upon to give accurate, dependable advice and reliable implementation that takes into account the implications of all aspects of a REIT transaction.
With an unmatched presence in all the major financial centers across the Asia Pacific and over 800 lawyers on the ground in the Region, they have been at the forefront of ground breaking REITs transactions in Asia. Baker & McKenzie are the only law firm who has to date acted on all the REITs listed on the stock exchanges in Hong Kong and Taiwan. In addition, they have also been involved in REITs that have been listed
on the exchanges in Malaysia, Tokyo and Singapore.

Milton Cheng,
Partner, Baker & McKenzie, Hong Kong
Mr Cheng’s areas of expertise include real estate investment trusts (REITs), mergers and acquisitions, corporate restructurings, financial services regulation and corporate finance. Mr Cheng is the co-head of Baker & McKenzie’s Asia Pacific REITs Group and has considerable experience in complex corporate and finance transactions and regularly advises financial institutions, Hong Kong-listed developers and other
listed companies, and multinational corporations.

Bill Fuggle,
Partner, Baker & McKenzie, Australia
Mr Fuggle’s practice focuses on capital markets and financial products. He has acted on a range of equity capital markets and debt capital markets matters, ranging in size from $10 million to $1 billion in Australia, the UK, Switzerland and Singapore. Most recently he has acted on the establishment of a number of real property funds listed on the Australian and Singapore stock exchanges.

Angela Lee,
Partner, Baker & McKenzie, Hong Kong
Ms. Lee regularly advises real estate funds, financial institutions, property developers and multinational clients on property-related matters, including development, finance, sale and acquisition, landlord and tenant and litigation support. Since her first appointment as a China Appointed Attesting Officer in 1995, she has been heavily involved in the sales of development projects in Mainland China. Today, Ms Lee is
the Global REIT liaison of the Global Transactional Practice Groups of Baker & McKenzie and is also the co-head of the Asia Pacific REITs Group of the Firm.

Olivier Mesmin,
Partner, Baker & McKenzie, France
Mr Mesmin is the exclusive advisor of the Fédération des Sociétés Immobilières et Foncieres (FSIF), which is the French REIT federation. As such, Mr Mesmin has been heavily involved in the design, negotiation and implementation in 2003 of a new and specific tax regime for REITs in France (SIIC regime) which is similar to the US REIT plan. Mr Mesmin’s regularly advises clients in the property industry on the design and
structuring of real estate funds and on unlocking real estate value operation and on the setting up of SIIC structures.

Michael Smith,
Partner, Baker & McKenzie, Chicago
Mr. Smith is the Head of Baker & McKenzie’s North America Real Estate practice. His practice focuses on advising clients on large-scale commercial and residential real estate development and finance, commercial lending, securitisation and structured finance projects. He also specialisies in alternative funding structures (REMIC, REITS, TICS and mortgaged backed securitisation), loan sales and participations,
mortgage servicing, sale leaseback and synthetic leasing, including the interplay between the relevant accounting, tax and legal requirements.

Jason Ng,
Partner, Baker & McKenzie, Hong Kong
Mr. Ng’s practice focuses on investment funds, private equity and mergers and acquisitions. He has advised on the structuring and establishment of various unit trusts, mutual funds and private equity funds. He also regularly advises fund management clients on regulatory and licensing issues. Mr. Ng has also recently been involved in many of the Asia Pacific REITs which have listed on the Hong Kong and Singapore Stock Exchanges, including the Champion, Fortune, Prosperity
and Link REITs.