Rubicon America Trust (ASX:RAT) was listed on the ASX on 6 December 2004 to provide Investors with attractive income returns and the potential for capital growth through exposure to a diversified portfolio of US commercial real estate assets and loans. The RAT Portfolio is now highly diversified with 33 properties located in 19 states throughout the US and in Washington DC.

RAT's strategy encompasses two major components:

• Real estate ownership
  To acquire a diversified portfolio of properties with low risk characteristics, particularly modern and functional buildings with high credit quality tenants and long lease duration. Specifically, to date RAT concentrated on the acquisition of properties leased primarily to US Government tenants and has now become the owner of one of the largest US Government tenanted property portfolios; and the owner of one of the largest US Government tenanted property portfolios; and
  
  
• Real estate financing
  To acquire, through a wholly owned investment vehicle, Rubicon Finance America, a highly diversified portfolio of loan assets through the provision of financing solutions to private and corporate owners of commercial real estate in North America.

RAT is managed by Rubicon Asset Management Limited (the Manager). RAT invests in US real estate via a US real estate investment trust (the US REIT) controlled by RAT.