hedging reduced , page-6

mark,

yes, thats the key, not having to sell.

Having the gearing covenant removed, means that we arent forced to at the worst times.

I like the fact that its jap banks, jap interest rates,

while we lose some currency protection, we jus have to wear it.

I'd rather have a div, that was subject to swings in currency, in a reit that could actually pay divs, because its not forced to pay down debts levels on covenants.

A currency swing div is better than a RIET in trouble and not paying divs.

market will wake up.

cheers