http://www.copyright link/real-estate/aims-property-investors-to-make-as...

http://www.copyright link/real-esta...stors-to-make-asic-submission-20170103-gtle1t

The Cromwell Phoenix Property Securities Fund I rate quite highly, and they also have another fund focused on smaller companies and their best ideas that has a very impressive record. It is pleasing to see in this article they are prepared to speak up about the conduct of this vote and also AIMS not consulting shareholders when changing the mandate, along with other issues.

The way AIMS voted their stake highlights an area in the market that needs to be cleaned up by regulators. I don't think the AGF & APW cases of late will be last in which there are grey areas about significant shareholders having interests other than that as a member or not.

It was evident since AIMS revealed their tactic of waiving the RE fee that they were always going to vote their stake. It later also became clearer this would occur from some other articles in the media. It doesn't seem entirely fair to conduct a vote when shareholders are thinking AIMS would vote. That is, perhaps some unit holders read that since AIMS are voting their 38% stake, why would I bother to vote myself when that will virtually guarantee they win the vote?