Fund Performance

The Fund commenced in August 2013 and its performance is benchmarked against the PCA/IPD Unlisted Retail Property Fund Core Index

As at 31 December 2016. Fund Performance is presented after fees and costs. Past performance is not an indicator of future performance.

The Cromwell Direct Property Fund provides exposure to property throughout Australia either directly or through investments in unlisted property trusts. The Fund currently provides diversification across seven properties located throughout Queensland, Victoria, South Australia and the Australian Capital Territory1. The Fund aims to provide investors with diversification and access to a strong income stream with capital growth potential2. The tax advantaged distribution is currently 7.00 cents per unit pa4 and is paid monthly2.

The estimated amount available to meet withdrawal requests in January is $618,714. We expect to be able to meet withdrawal requests received this month in full. This information is subject to change. The Limited Monthly Withdrawal Facility is explained in section 7 of the PDS (see Resources below)3.

 

Properties

  • The Ipswich City Heart Building was acquired from developer Leighton Properties in 2011. The asset forms part of Stage 1 of the $1 billion redevelopment known as ICON Ipswich,located in the Ipswich CBD approximately 39 kilometres south west of the Brisbane GPO.
    Sector Commercial/Retail
    Address 117 Brisbane Street
    Value 100 - 200 million
  • The ATO Dandenong building is a seven-level commercial office building at 11-13 Robinson Street, in the outer Melbourne suburb of Dandenong, which reached practical completion in October 2015.
    Sector Commercial/Retail
    Address 11-13 Robinson Street
    Value 50 - 100 million
  • Energex House is an A-Grade office building, acquired by the Cromwell Riverpark Trust in 2009, and forms part of the $1.1 billion Gasworks urban renewal project.
    Sector Commercial/Retail
    Address 33 Breakfast Creek Road
    Value 100 - 200 million
  • The Rand Distribution Centre is an impressive and substantial purpose built cold store facility located in Direk, South Australia, which reached practical completion in December 2013.
    Sector Commercial/Retail
    Address Lot 902 Caribou Drive
    Value < 50 million
  • Masters Parafield is a purpose-built retail project located within the Parafield Airport precinct, just 12 kilometres north of the Adelaide CBD. The facility is due to open in May 2016.
    Sector Commercial/Retail
    Address Main North Road 5106
    Value < 50 million
  • 64 Allara Street is a six-level, A-Grade property located in the south eastern section of the Canberra CBD, approximately three kilometres north of Parliament House.
    Sector
    Address 64 Allara Street 2601
    Value < 50 million
  • Bunnings Munno Para West is a purpose-built retail project adjacent the Northern Expressway, corner of Curtis and Frisby Roads, Angle Vale, in a prime position capitalising on the northern growth corridor of Adelaide.
    Sector
    Address Cnr Curtis Road and Frisby Road 5117
    Value < 50 million

Investment Strategy

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Cromwell Funds Management will look to deliver on the Fund’s investment objective by investing directly, or through unlisted property trusts, in non-residential Australian property with a primary focus on high quality commercial, industrial and retail property leased to government and blue chip tenants on long leases. The current portfolio provides investors with diversification across seven properties and access to a strong income stream, the majority of which is expected to be tax deferred.

Features

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  • Unlisted property fund
  • Seven year term
  • Currently 7.00 cents per unit, pa4 – paid monthly2
  • Limited monthly withdrawal facility and intended full withdrawal opportunity in July 20203
  • Reinvestment facility available
  • Minimum initial investment $10,0005

Experienced Investment Manager

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Since 1998, Cromwell has built a portfolio of assets under management valued in excess of $10.3 billion. Cromwell’s experienced management team caters to the needs of Government and blue chip tenants and manages each property in-house for the benefit of investors.

Cromwell’s effectiveness as a property manager is measured by comparing total annual returns from all Cromwell managed properties against the IPD Australian All-Fund Universe. Cromwell has successfully outperformed this index over three, five, ten and fifteen years.*

* Cromwell's property portfolio outperformance of the IPD Australian All-Fund Universe is during the 15 year period to 30 September 2016. Past performance is not indicative of future performance. In particular distributions and capital growth are not guaranteed.

Risk Disclosure

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An investment in this Fund is subject to risk. Capital growth, distributions and tax consequences cannot be guaranteed.

In the PDS, CFM has listed the key risks of investing in the Fund. CFM has not listed all risks. Where applicable, CFM has explained how it intends to manage the risks. However, risks cannot be avoided altogether and some risks are outside CFM’s control.

If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment.

A potential investor should consider the risks, and their attitude towards risk in general, when considering an investment in the Fund.

As set out in Section 4 of the PDS, examples of key risks include diversification risk, property risk and Fund risk. See the PDS for further details.

Distribution and NAV History

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Distribution, reinvestment and Net Asset Value per unit

Distribution

Period 
Ending 

Distribution
Amount

Reinvestment
Unit Price

(NAV)

Ex Distribution 
Exit Price

FY17 Monthly Distribution

31-Dec-16

0.0058333

1.1690

1.1690

FY17 Monthly Distribution

30-Nov-16

0.0058333

1.1677

1.1677

FY17 Monthly Distribution

31-Oct-16

0.0058333

1.1656

1.1656

FY17 Monthly Distribution

30-Sep-16

0.0058333

1.1665

1.1665

FY17 Monthly Distribution

31-Aug-16

0.0058333

1.1519

1.1519

FY17 Monthly Distribution

31-Jul-16

0.0058333

1.1513

1.1513

FY17 Total Annual Distribution

 

0.0349998

   

FY16 Monthly Distribution

30-Jun-16

0.0058333

1.1519

1.1519

FY16 Monthly Distribution

31-May-16

0.005

1.1509

1.1509

FY16 Monthly Distribution

30-Apr-16

0.005

1.1543

1.1543

FY16 Monthly Distribution

31-Mar-16

0.005

1.1565

1.1565

FY16 Monthly Distribution

29-Feb-16

0.005

1.1511

1.1511

FY16 Monthly Distribution

31-Jan-16

0.005

1.1550

1.1550

FY16 Monthly Distribution

31-Dec-15

0.005

1.1580

1.1580

FY16 Monthly Distribution

30-Nov-15

0.005

1.1358

1.1358

FY16 Monthly Distribution

31-Oct-15

0.005

1.1375

1.1375

FY16 Monthly Distribution

30-Sept-15

0.005

1.1395

1.1395

FY16 Monthly Distribution

30-Aug-15

0.005

1.0969

1.0969

FY16 Monthly Distribution

31-Jul-15

0.005

1.0986

1.0986

FY16 Total Annual Distribution

 

0.0608333

   

FY15 Monthly Distribution

30-Jun-15

0.003958333

1.0983

1.0983

FY15 Monthly Distribution

31-May-15

0.003958333

1.0895

1.0895

FY15 Monthly Distribution

30-Apr-15

0.006041667

1.0847

1.0847

FY15 Monthly Distribution

31-Mar-15

0.006041667

1.0882

1.0882

FY15 Monthly Distribution

27-Feb-15

0.006041667

1.0675

1.0675

2015 Total Annual Distribution

 

0.026041667