Standard and Poor’s was informed in early 2011of Mr. Martin’s intention to repatriate to Sydney, and therefore retire from his London-based position. Effective succession planning has been put in place, with Marko van Bussel appointed as portfolio manager U.K./Europe in February 2011. The transition of UK/Europe responsibilities has been more than a six-month process. 

We believe CFSGAM has appointed an experienced and capable portfolio manager in Mr van Bussel. We believe that his over 10 years of real-estate equities experience has him well placed to manage the UK/Europe strategy.

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