Cromwell wins Fund Manager of the Year for Australian Property Securities
The Cromwell Phoenix Property Securities Fund has taken out the Money Management / Lonsec Fund Manager of the Year Awards for Australian property securities.
The award recognises the Cromwell and Phoenix Portfolios teams’ experience and consistency and the strong performance of the Cromwell Phoenix Property Securities Fund. Lonsec selected winners based on returns for calendar year 2010 as well as a qualitative analysis ‘momentum’ score that took into consideration process enhancements, team stability, management of FUM capacity and risk management.
Over 2 years to 31 December 2010, the Cromwell Phoenix Property Securities Fund has returned 20.2% pa, outperforming its benchmark¹ by 15.9% pa.²
The Fund’s characteristics are unique in the Australian property securities space, having an active and benchmark unaware investment process utilising predominantly bottom-up research and overcoming the issues of a highly concentrated benchmark by limiting any one stock to 20% of the portfolio.
This approach, when combined with one of the most experienced investment managers in the business – Stuart Cartledge of Phoenix Portfolios - has resulted in a very attractive investment product.
Phoenix Portfolios was also a Finalist in the Rising Star category at the awards.
Under Cromwell's exclusive arrangement, retail investors can now access, via the Cromwell Phoenix Property Securities Fund, Phoenix’s established property securities research and investment skills, otherwise only accessible to institutional investors.
Cromwell Property Group (ASX:CMW) is an internally managed Australian real estate investment trust (A-REIT) and property funds management business with in excess of $1.8 billion in assets under management. The Group also owns 50% of Phoenix Portfolios.
Cromwell’s Australian property focus enables it to provide a full suite of property related services including transaction sourcing, due diligence, property management, leasing, asset enhancement and realisation.
1] S&P/ASX 300 A-REIT Accumulation Index
2] Past performance is not an indication of future performance. Subject to assumptions and risks contained in the Product Disclosure Statement dated 4 February 2011.
Units in the Cromwell Phoenix Property Securities Fund ARSN 129 580 267 (the Fund) are issued by Cromwell Property Securities Limited ABN 11 079 147 809, AFSL 238052 (CPS). Phoenix Portfolios Pty Ltd ABN 80 117 850 254 is the investment manager of the Fund. Before making an investment decision in relation to the Fund investors should read Product Disclosure Statement dated 4 February 2011 (PDS), which is available from www.cromwell.com.au or by calling Cromwell Advisor Services on 1800 334 533. This information has been prepared without taking into account your objectives, financial situation or needs. CPS does not receive any fees for any general advice above. As the responsible entity of the Fund, CPS does receive fees set out in the PDS. Therefore, in deciding whether to acquire or continue to hold an investment in the Fund, you should consider the PDS and assess, with or without your financial or taxation advisor, whether the product fits your objectives, financial situation or needs.