up 11% (1.5c), page-7

Hi Midlife

If the A$ gets to parity with the US$ thats a negative effect of about 10%. But the SP is so undervalued that that pales into insignificance. E.g. todays SP went up enough to compensate for the A$ going to around 96c.

Then theres the same $ exch rate effect on Asset values offset by Debt values.

And I dont know what their forex hedging position is.

But in summary, I dont think the A$/US$ exch rate is a major SP factor.

This really appears to be one of the overlooked REITs. It too will hopefully come right.