Invesco Global Real Estate Asia Pacific Inc

Fees and Compensation

  The fees described in this section are strictly for the provision of investment
  management, investment advisory, asset management or other property related
  services and do not include other fees that a client account may incur, such as
  custodian fees or fees charged by other service providers retained by the
  accounts. The Company does not receive, or participate in the sharing of
  custodian fees or otherwise receive any benefit as a result of custodial
  arrangements entered into by its client’s accounts.

  Private Funds
  Fees are billed on a monthly, quarterly, semi-annual or annual basis at the close
  of the relevant period. In some Private Funds, fees are billed in advance and
  trued-up at the end of the period.
  Generally, fees for investment management and investment advisory services for
  the opportunity funds are calculated as a percentage of capital commitments
  during the investment period, and invested capital less capital returned after the
  investment period. Fees are shown as annual percentages, though paid quarterly,
  semi-annually or annually. The percentage fee rate ranges from 1.00% to 1.75%.
  The fee schedule for each investor of a particular Private Fund is published in the
  Private Fund’s documents and may be separately negotiated.
  Generally, fees for the income funds and for asset management services are
  calculated as a percentage of equity in the investment vehicles owned by the

  Private Funds. Fees are shown as annual percentages, though paid monthly.
  The percentage fee rate 0.6%.
  The Company may also be compensated in the form of acquisition fees,
  development fees and performance-based fees. Acquisition fees range from
  0.25% to 0.5% of the purchase price of assets. For another particular Private
  Fund, we can also be compensated with development fees up to a maximum of
  4% of total costs of construction projects, in addition to our normal investment
  management fees.

  Separate Accounts
  Fees are billed on a monthly, quarterly or annual basis at the close of the period.
  Generally, fees are calculated as a percentage of rental income or on a fixed fee
  basis. Fees are shown as annual percentages, though paid monthly, quarterly or
  annually. The percentage fee rate ranges from 0.05% to 0.47% or asset value or
  0.15% to 5.00% of income.
  The Company may also be compensated in the form of disposition fees.
  Disposition fees are negotiable fees that range from 0.25% to 3.0% of the
  transaction price.

  JREIT
  Fees are billed on a semiannual basis at the close of the relevant period. The
  JREIT pays management fees to the Company which are equal to (i) 0.30%
  based on gross asset value and (ii) 0.0017% based on the net operating income
  and adjusted earnings per unit (the number of units may need to be adjusted due
  to unit split or reverse unit split). The JREIT also pays the Company an
  acquisition fee of 1.0% and a disposition fee 0.5% on a per-transaction basis.

Types of Clients

  The Company provides investment management, investment advisory and asset
  management services to a variety of clients, including Private Funds, real estate
  holding companies, real estate investment management companies, insurance
  companies and a real estate investment trust. In the Private Funds, investors
  include publicly listed companies, unlisted companies, insurance companies,
  pension funds, sovereign wealth funds, foundations, trusts, fund-of-fund
  investment vehicles and personal holding companies.

  Account Minimums
  Our Private Funds usually require a minimum of $10,000,000. All minimums are
  negotiable and, in certain circumstances, the minimums may be waived.
  The Company reserves the right to decline business at its discretion.

Methods of Analysis, Investment Strategies and Risk of Loss