CORPORATE STRUCTURE RELATIONSHIPS

The US Residential Fund (Fund), as a stapled entity, comprises the US Residential Trust (ARSN 601 461 956) (Trust) and US Residential Ltd (ACN 169 548 369) (Company).

The company, together with the responsible entity for the trust share responsibility for the operation of the fund, including the determination of its strategic direction.

The responsible entity for the trust is USA Residential Funds Management Ltd (ACN 154 454 092, AFSL No. 416778), a wholly owned subsidiary of the company. In order to achieve unity of management many of the asset management and administration functions of the company and the responsible entity have been delegated to the manager. 

Both the responsible entity and the company retain the responsibility for performance and compliance of the fund, in addition to their own respective corporate governance and compliance obligations under the corporations act and the listing rules, while the day-to-day asset management and administration activities for the fund will be carried out by the manager.

ROLE OF THE COMPANY

The company is bound by the company constitution which, together with any replaceable rules under the corporations act that apply to the company, establishes the legal relationships between:
  • the company and each member (holder of a share); 
  • the company and each director or secretary of the company; and 
  • a member and each other member. 
In line with the fund’s investment objectives and strategies, the company may from time to time make investments in assets that do not meet the US REIT investment criteria and it is prudent that these investments are held outside of the trust. The company will seek opportunities of a commercial nature, other than passive investment for rental income. Typically these opportunities include investment properties that present opportunities for strategic repositioning as well as property and funds management.scrip