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SPDR S&P/ASX 200 LISTED PROPERTY FUND (SLF)

SPDR S&P/ASX 200 LISTED PROPERTY FUND (SLF)

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General Information
Company Name: SPDR S&P/ASX 200 Listed Property Fund
Stock Code: SLF
Website: www.spdr.com.au
GICS Sub-Industry: Diversified Real Estate Investment Trusts
Market Cap ($M): 296
Equiv. Shares (M): 38

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 7.810 $ 7.790 $ 7.830 $ 7.780 $ 7.790 20,565 $ 0.020  0.257 %

Company Overview

Business Description:
SPDR S&P/ASX 200 Listed Property Fund (SLF) is an exchange traded fund which seeks for returns on S&P/ASX 200 Listed Property securities. The Responsible Entity of SLF is State Street Global Advisors, Australia Services Limited.

Strategy Analysis:
SLF employs a passive growth investment strategy, investing in securities comprising the S&P/ASX 200 Listed Property Trust in proportion to their relative weightings. The Fund may hold derivative contracts (such as forwards, futures, options and swaps over securities in the Index) if the investment manager believes that the Fund's investment objective can be better achieved by doing so. Derivatives will only be used for trading purposes (such as hedging to protect an asset in the Fund against fluctuation or as a substitution for trading physical securities), and not for the purpose of gearing the Fund.


Financial Summary
Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2011  A 14.6 37.8 -51.8 21.0 40.1 5.1 10.1
2010  A 26.2 78.5 -- 10.2 52.1 6.5 0.8
2009  A -47.5 -283.0 -- 0.0 61.1 6.8 17.7
Source: Aspect actuals / Thomson IBES estimates

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F 2009 A 2010 F 2011 F
CFS Retail Property Trust (CFX) $5,338 M 0.1133 0.1320 0.0229 16.2209 14.3293 14.0089 0.0676 0.0697 0.0716
Dexus Property (DXS) $4,524 M 0.2417 -0.0793 -0.0013 11.2380 12.2063 12.2222 0.0554 0.0572 0.0604
Goodman Gp (GMG) $5,284 M -0.3579 0.7380 0.0691 19.4191 11.1730 10.4505 0.0513 0.0540 0.0586
Investa Office Fund (IOF) $1,633 M -0.1105 0.0000 0.0705 13.3870 13.3870 12.5059 0.0586 0.0586 0.0642
SPDR S&P/ASX 200 Listed Property Fund (SLF) $295 M -0.5181 -- -- 20.6085 -- -- 0.0515 -- --

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth
SLF -- 20.7 -- --
Market 1.12 11.1 0.96 2.31
Sector 1.27 12.1 0.79 2.39

Directors
Name Position Start Date
Mr Robert Charles Goodlad Non-Executive Director 01 August 2005
Mr Jonathan M Shead Non-Executive Director 01 August 2007
Mr Michael Nairn Non-Executive Director 24 November 2009

Management
Name Position
Phillip Maher Company Secretary

Substantial Shareholders
Holding Name
1,987,037 (5.07%) HSBC Custody Nominees (Australia) Limited

Calendar of Events
Date Event
15 February 2013 Report (Interim)
23 August 2012 Report (Prelim)
23 August 2012 Report (Annual)
04 June 2012 Div Pay Date
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