Board of Trustees

The Fund is governed by a Board of five Trustees, four of whom are independent of the Fund or its Manager.

The Board oversees the business and affairs of the Fund. The independent Trustees also monitor the performance of the Fund Manager, Brookfield Real Estate Services Limited, a subsidiary of Brookfield Asset Management Inc., on behalf of the Fund and ensure compliance with the terms of the Management Services Agreements.

The Trustees have adopted formal terms of reference regarding their responsibilities and all matters of governance. They have agreed to formal distribution and disclosure policies, which are reviewed on an ongoing basis.

Lorraine Bell - Trustee and Chair of the Audit Committee
Since 1996, Ms. Bell has been a self-employed consultant. She is a chartered accountant with over 20 years of experience in the financial sector. Ms. Bell is a member of the Board of Directors and the Audit and Human Resources Committee of the Ontario Financing Authority. Prior to being self-employed, she was the founder and responsible for General Re Financial Products Canada, a derivatives services company, which she ran from 1993 until 1996.

Simon Dean - Trustee
Since April, 2005, Mr. Dean has been a self-employed consultant. Previously, he was Chief Executive Officer of the Manager (and its predecessor) since January 1995 and Managing Partner of Brookfield Business Services since 2001. Prior to joining the Manager’s predecessor, he was President and Chief Executive Officer of three retail organizations owned by Rogers Communications Inc. from 1988 to 1993 and Executive Vice President of Rogers Cantel Mobile Communications Inc., a national cellular service provider, from 1993 to 1994.

Allen Karp - Trustee and Chair of the Governance Committee
Mr. Karp resides in Toronto, Ontario. Mr. Karp was a partner in the law firm of Goodman and Carr LLP, where he practiced law from 1966 to 1986. Mr. Karp had been with Cineplex Odeon Corporation since 1986, where he retired as President and Chief Executive Officer in 2002; and as Chairman Emeritus in 2005. Mr. Karp also sits on the Board of Directors of Tucows Inc.; is a Trustee and Chairman of IBI Income Fund; and is a director and past Chairman of the Toronto International Film Festival Group.

Gail Kilgour - Trustee
Ms. Kilgour, ICD.D, brings more than 25 years of experience in the financial services industry to the Board. She currently serves on the Board of Directors for the Ontario Realty Corporation and chairs their Human Resources Committee. A self employed consultant since 2005 and Corporate Director, Ms. Kilgour was prior to 2004 employed by the Canadian Imperial Bank of Commerce ("CIBC"), in a number of senior management roles including, Senior Vice President, Government Sponsored Student Loans, President and Chief Executive Officer, EDULINX Canada Corporation, a subsidiary of CIBC and Senior Vice-President, CIBC's e-Business Strategy.

George Myhal - Trustee and Chairman
Mr. Myhal is Managing Partner and Chief Operating Officer of Brookfield Asset Management Inc. Mr. Myhal has held a number of senior positions within Brookfield since joining the company in 1981. He has been instrumental in the development and growth of Brookfield's asset management business and is responsible for corporate development and Brookfield’s public security group. He received a Chartered Accountant designation and is an industrial engineering graduate of the University of Toronto.