Rimcorp Property Trust No. 4 ARSN 122 836 800, page-13

no capital returns..........or income for ages.........
as far as i remember, there was no swap agreement made, as the loan was fixed interest until (dont quote me, its from memory, would have to check) 2012...........i do have the original PDS, but not here. I think the swap took effect after Wellcap bought the management out ( funny that !!). I just find it hard to see how it benefited the fund........unless of course, interest rates jumped to above 12%, overnight !!..........its interesting to see the interest cost, compared to the "hedging" cost........simply astounding !!!!
as you may know too, there was a takeover offer from a mob called Kibble, at the end of 2013, for 90(ish) cents...........they bought Macarthur Cooks holding and then vanished !
This was the article done by Michael West, that explains it better
http://www.smh.com.au/business/comm...-after-leaving-north-pole-20131222-2zt0s.html

as yet, Wellcap havent returned my email, and neither has John Ballhausen (original manager, and unit holder)