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5 Real Estate Investment Trust Commercial Mortgage Backed Securities 7 8 I 9 10 (Property Trust)

6 Managed Investments Act Managed Investment Scheme Trustee Manager Responsible Entity Special Purpose Company

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8 16 Special Purpose Company : Special Purpose Trust :

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10 ( )

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15 32 32 Employee Retirement Income Security Act (fiduciary) (fiduciary duties) ( ) 15

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17 38 J 38 17

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20 ( ) 43 20

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22 (1992.8)

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... 4 I. REIT Appendix PwC 2

... 4 I. REIT Appendix PwC 2 2014 3 31 October 2010 PwC 1 ... 4 I. REIT... 5.... 25 Appendix... 43 PwC 2 REIT PwC 4 I. (REIT) I-1. REIT REIT REIT US-REIT 1960 1961 2013 US-REIT 600 US-REIT 10 83 10 US-REIT US-Mutual Fund (CMBS) US-REIT

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