The Oasis Property Equity Fund enjoys exposure to domestic and offshore property. The Fund aims to provide a good income yield while minimising our investors' exposure to capital loss. By focussing on both capital protection and income yield, the Property Equity Fund is succeeding as the best performing property fund since inception. It has provided a 19.6% return annually. As of this quarter, the Fund is classified under the Domestic Asset Allocation Flexible Property sector.

The Oasis Property Equity Fund was the best performing property fund during 2001 and has substantial exposure to offshore property. The portfolio largely includes those property companies with low levels of debt. Exposure to industrial property has been increased as fundamentals for this sector are attractive.

The Oasis Property Equity Fund has produced consistent returns with a return of 23.2% for the year ending 30 Nov 01 compared to the Property Unit Trust Index's return of 16.4% for the same period. The fund is exposed to both domestic and international property companies that produce higher dividends, stable income and a low risk of capital erosion.