The RWNS Far North Queensland (FNQ) Opportunity Fund (the Fund) was established in June 2007.  The Trustee of the Fund, RWNS Funds Management Pty Limited, is a Joint Venture between Ray White Invest and FNQ Investments (James Neville-Smith).

Key features of the Fund are:

• Investment in Far North Queensland only.
• Broad range of investments, by sector, and by investment type to minimise return volatility and risk.
• Performance fees only payable to the Manager once investors have achieved a return of 18% p.a.
• Major investors will have the right to be appointed a voting member of the FNQ Investment Committee.
• The Trustee will use the extensive networks of Ray White Invest and the Neville-Smith family to source investment opportunities for the Fund.
• The Fund will have a first right of refusal to invest in up to 70% of all investment opportunities sourced or presented to Ray White Invest in the region.
• The Trustee will subscribe for 10% of the total number of units applied for, thereby ensuring an alignment of interests with Investors.

The Fund issued 31.1 million partly paid $1.00 units of which $0.3385 had been called by December 2009. These funds were used acquire:

• Two sites in Mission Beach, the first for a residential subdivision of 34 lots and  the second a commercial site of 2450sqm for a planned mixed use development.
• A 3.6 hectare industrial site in Paget Mackay, planning is currently underway for a business park.