Continuous Disclosure Obligations

AfsSec Australian Equity Fund

ARSN: 162 640 619

Australia Chinese Renminbi Fund

ARSN: 162 645 534

AFSSEC Australian Real Property Fund

ARSN: 164 697 189

AFSSEC Australian Mortgage Fund

ARSN: 603 046 377


1st August 2017

Dear Investors,

Appointment of Scheme Auditor:

AFS Capital Securities Limited (AFS) as the responsible entity of the following registered
managed investment schemes:
· Australia Chinese Renminbi Fund ARSN 162 640 619;
· AFSSEC Australian Equity Fund ARSN 162 645 534;
· AFSSEC Australian Real Property Fund ARSN 164 697 189; and
· AFSSEC Australian Mortgage Fund ARSN 603 046 377,
hereby inform that KPMG (ABN No. 51194660183) has been appointed as the auditor for the
above-mentioned schemes, effective July 31st 2017.

AFS Capital Securities Ltd.


18 th July 2017

Dear Members,

AFS Capital Securities Limited (AFS) as the responsible entity of the following registered managed

scheme:

AFSSEC Australian Mortgage Fund ARSN 603 046 377

hereby inform that BDO Audit (WA) Pty Ltd (ABN No. 79112284787) has resigned as the auditor of

the above registered managed scheme, effective 18 th of July 2017. KPMG (ABN No. 51194660183) is

the incoming auditor for the above registered managed scheme. AFS Capital Securities

Limited has made this appointment as the result of a commercial decision.

AFS Capital Securities Ltd.


18 th July 2017

Dear Members,

AFS Capital Securities Limited (AFS) as the responsible entity of the following registered managed

investment schemes:

· Australia Chinese Renminbi Fund ARSN 162 640 619;

· AFSSEC Australian Equity Fund ARSN 162 645 534; and

· AFSSEC Australian Real Property Fund ARSN 164 697 189,

hereby inform that Nexia Melbourne Audit Pty Ltd (ABN No. 86005105975) has been removed as the

auditor of the above registered managed investment schemes, effective 18 th of July 2017. KPMG

(ABN No. 51194660183) is the incoming auditor for the above registered managed

investment schemes. AFS Capital Securities Limited has made this appointment as a result of a

commercial decision.

AFS Capital Securities Ltd.


10th July 2017

Dear Members,

AFS Capital Securities Limited (AFS), as Australian Financial Services Licensee 363925,
hereby advise that the company has made a commercial decision to change auditors. The
resigning auditor, Mr George Georgiou (ASIC Registration No. 10310), will be replaced by
KPMG (ABN No. 51194660183) as the appointed auditor. This change is effective as of
Monday the 10th of July 2017.

AFS Capital Securities Limited.


May 25th, 2017

Dear Investors,

Appointment of Compliance Plan Auditor:

AFS Capital Securities Limited (AFS) as the responsible entity of the following registered managed investment schemes:

· Australia Chinese Renminbi Fund ARSN 162 640 619;

· AFSSEC Australian Equity Fund ARSN 162 645 534;

· AFSSEC Australian Real Property Fund ARSN 164 697 189; and

· AFSSEC Australian Mortgage Fund ARSN 603 046 377,

hereby inform that KPMG (ABN No. 51194660183) has been appointed as the compliance plan auditor for the above-mentioned scheme, effective May 25th 2017.

AFS Capital Securities Ltd.


January 31, 2017

Dear Members,

Removal as compliance plan auditor

AFS Capital Securities Limited (AFS) as the responsible entity of the following registered managed investment schemes:

· Australia Chinese Renminbi Fund ARSN 162 640 619;

· AFSSEC Australian Equity Fund ARSN 162 645 534;

· AFSSEC Australian Real Property Fund ARSN 164 697 189; and

· AFSSEC Australian Mortgage Fund 603 046 377,

hereby inform that Mr GEORGE GEORGIOU, registered company auditor ( ASIC Registration No. 10310) has been removed, in accordance with section 601HH(1), as the compliance auditor for the the above mentioned scheme, effective on 21 December 2016, due to Mr EORGIOU’s ineligibility to act as auditor of a compliance plan under Section 601HG(2)(c). Details of the proposed incoming auditor will be disclosed shortly.

AFS Capital Securities Ltd


7 October 2016 - PAYMENT OF FUND CUSTODY FEES

Dear Investor,

PAYMENT OF FUND CUSTODY FEES

I am writing to inform you that AFS Capital Securities Limited is changing its policy regarding the payment of custody fees on the AfsSec Australian Equity Fund. Historically it has been AFS Capital Securities Limited’s (AFS) policy to pay the fees of the fund’s custodian on behalf of the fund. These fees have been paid and no reimbursement has been claimed. AFS has elected to change this policy and will be requiring these fees to now be paid by AfsSec Australian Equity Fund. In accordance with Section 6.1 of the Product Disclosure Statement, AFS is required to provide investors with 30 days notice and as such this change will come into effect as of 1 November 2016. Below is an estimated cost per unit of this change based on the previous quarter’s custody fees as charged by Perpetual:

Custody Fees – Quarter ended 30 June ($) $5,621.29

Units on issue 517,959.25

Quarterly cost per unit ($) $0.01085

Annual cost per unit ($) $0.04341

The figures are based on the fees charged for the quarter ended 30 June 2016 which have been paid by AFS and will not be reimbursed be AfsSec Australian Equity Fund. They have been included purely as a guide as it is not envisaged that they will materially differ going forward.
Please do not hesitate to contact me should you have any queries regarding the above change.

Yours Sincerely

Bingxing Hu

Managing Director


14 September 2016 - CHANGE IN FREQUENCY OF CALCULATION OF UNIT PRICES

Dear Unitholder,

I am writing to inform you that AFS Capital Securities Limited (AFS) is changing its policy regarding the frequency of the calculation of the fund’s unit prices. Under the existing policy unit prices are calculated daily. Due to the existing level of applications and redemptions from the funds AFS has decided to change this to a monthly calculation of unit prices. Under this new policy the unit price of the funds will be calculated on the last business day of every month and on any day upon which an application or redemption is received for the fund. This will be effective as of Thursday the 15th of September 2016 and will apply to the following funds:

- AfsSec Australian Equity Fund (ARSN 162 645 534)

- Australia Chinese Renminbi Fund (ARSN 162 640 619)

Please do not hesitate to contact me should you have any queries regarding the above change.

Yours Sincerely,

James Brooks
Finance Manager


26 February 2014 - Removal of minimum application amount and establishment fee

AFS Capital Securities, as the Responsible Entity of the Australia Chinese Renminbi Fund, has determined to make the following changes, effective immediately.

  • Australia Chinese Renminbi Fund Class B units: Removal of minimum application amount of AUD$2,000. As of the 26/02/2014 there is no minimum initial application amount required for investment in this fund.
  • Australia Chinese Renminbi Fund Class B units: The initial application fee or establishment fee of 1% will be removed. As of the 26/02/2014, there is no establishment fee charged for investment in this fund.

10 January 2014 - Change Bank Account Details

From the 10 January 2014 the bank account details of the AfsSec Australian Equity Fund (Class A and B) and the Australia Chinese Renminbi Fund (Class B) have changed in the Additional Information Product Disclosure Statement, the Application Form and the Additional Application Form.

A different financial institution has been selected for these bank accounts and each class of unit in each fund now has separate bank account details.

The AfsSec Australian Equity fund classes A and B, and the Australia Chinese Renminbi Fund Class B units, are now using a Macquarie Bank account (formally a Commonwealth Bank account).

The Australia Chinese Renminbi Fund Class A bank account details remain unchanged and retain the same account information with the Melbourne branch of the Bank of China.


8 January 2014 - Third Party Authorisation Form

From the 8 January 2014 a third party authorisation form is available for investors to allow a third party access to their managed fund account