Ann: New Fund-APD.AX, page-6

Well, in one respect it should. The value of a fully franked 10.5c dividend is closer to 14.5 cents. (I would gladly buy a stock that went from 55 to 45 then sell, just to pocket the franking credit.

Service stations might still be required in an EV universe (they are less than 1% of the australian and US market at present - though this will no doubt increase). However, it is worth remembering that alot servos in central areas are turned into appartment blocks. I can think of at least 5 in my area of central Sydney.

APN is my pick of the property fund managers. Brilliant mgmt team, consistent FUM growth, and capital light, co-investment model seems to work better than the approach undertaken by Cromwell (asset heavy) OR Centuria (very limited co-investment, and lazy balance sheet, ROE).