The Mirvac AQUA Income Fund, Mirvac AQUA Enhanced Income Fund and the Mirvac AQUA High Income Fund are diversified income funds, deriving income primarily from loans secured by mortgages over properties used for commercial, industrial, retail, residential and social infrastructure purposes, as well as from Mortgage Backed Securities.  Both Funds achieve this by investing in one or more of three Mirvac AQUA Debt Pools.

Mirvac AQUA Income Fund
The Mirvac AQUA Income Fund invests primarily in loans secured by a registered first mortgage investment and Mortgage Backed Securities via investment in the Mirvac AQUA Senior Debt Pool.  The Mirvac AQUA Income Fund will also hold some cash and invest in Liquid Assets.

Mirvac AQUA Enhanced Income Fund
The Mirvac AQUA Enhanced Income Fund invests primarily in loans secured by a mix of registered first mortgage investments and Mortgage Backed Securities via the Mirvac AQUA Senior Debt Pool and Mirvac AQUA Construction Debt Pool and investments in second subordinated first mortgages and mortgage Backed Securities via the Mirvac AQUA Mezzanine Debt Pool. The Mirvac AQUA Enhanced Income Fund will also hold some cash and invest in Liquid Assets.

Mirvac AQUA High Income Fund
The Mirvac AQUA High Income Fund invests primarily in loans secured by a mix of registered first, second and subordinated mortgage investments and Mortgage Backed Securities via investments in the Mirvac AQUA Mezzanine Debt Pool and the Mirvac AQUA Construction Debt Pool.  The Mirvac AQUA High Income Fund will also hold some cash and invest in Liquid Assets. From time to time, it may also invest in the Mirvac AQUA Senior Debt Pool.