CNPR Ltd, formerly Centro Properties Group, is an Australian real estate investment trust (A-REIT). The Company generates revenue primarily in two ways: Investment activities and Service Business Activities. It receives distributions from investments in its managed funds. These funds are diversified funds and property ownership funds, including syndicates, wholesale funds and the listed Centro Retail Trust. Its services business generates revenue in the form of fees from three main areas-property management, leasing and funds management. Property management fees are from activities related to the management and development of shopping centers owned by the property ownership funds. Leasing fees are from activities related to renewing retailers’ leases and leasing unoccupied and newly built shops. Funds management fees are generated through operating the managed funds for investors. As of June 30, 2011, it managed a portfolio of 103 shopping centers in Australasia.