The Property Funds Association of Australia Inc (PFA) is the peak body representing the Australian unlisted wholesale and retail property funds sector. As the professional association for Australian Financial Services licensed (AFSL) property fund managers, their advisors, consultants and representatives, we support and promote investment into unlisted property trusts, funds and syndicates, and assist members in developing and operating their businesses. The direct property investment industry plays an increasingly important role in the Australian economy. As the industry grew, direct property investors and managers needed an organisation to represent their interests, promote their industry and provide a forum for research and education. In 1998, the Property Funds Association (formerly ADPIA) was established to achieve these aims. The association has grown and expanded its scope to also represent the advisors, consultants and representatives of property investors and managers. We are committed to the improvement of relevant industry legislation and governance to facilitate industry growth and best-practice outcomes. To achieve these aims, we provide industry leading sector research and education to our members, and represent their interests to the Australian Securities and Investment Commission (ASIC), Treasury and other government and regulatory bodies. The PFA also forms close ties with investment bodies and associations such as the Financial Services Council, FPA, SMSF Association and AIOFP.