Business Description:
Aspen Group (APZ) is a property investment and funds management group, focused on acquiring quality property assets and creating and managing innovative property funds and syndicates.

Strategy Analysis:
APZ's business model is focused on the development of a sound property portfolio, with the aim of producing a sound recurring rental stream and achieving capital growth through active management and optimal asset utilisation. The second area of focus is developing a leading funds management business, generating recurring income streams from limited capital employment and building multiple distribution channels both in direct and indirect wholesale and retail markets. Aspen directly owns and manages a portfolio of commercial property assets Australia-wide. Aspen Funds Management (AFM) is a subsidiary of Aspen Group Ltd, established to enable Aspen Group to pursue funds management activities, including the management of property related investment funds. AFM acts as responsible entity for Aspen Property Trust, Aspen Parks Property Fund, Aspen Parks Wholesale Property Fund, Aspen Diversified Property Fund, Aspen Villages Fund, Aspen Communities Fund and Aspen Select Property Fund. Aspen Group reported NPAT up 38.82% to $17.43m for the year ended 30 June 2011. Revenue from ordinary activities were $95.28m, up 35.02% from last year. Basic and Diluted EPS were 3.08 cents compared to 2.25 cents last year. Net operating cash flow was $36.85m compared to $31.11m last year. The final dividend declared was 2.1 cents, taking the full year dividend to 4.2 cents compared with 4.2 cents last year.