Fund Performance

The Fund commenced in September 2013 and its performance is benchmarked against a combination of indices due to their relevance to the Fund's underlying investment portolio and strategy. See the PDS dated 24 September 2013 for full details.

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

The Cromwell Australian Property Fund was developed to meet demand from investors and financial advisers for a diversified property investment that incorporates Cromwell’s proven expertise in both listed and unlisted property. 
 
Cromwell has established clear asset allocation and investment limits to ensure the Fund has prudent exposure to both listed and unlisted assets at any given time, as well as enough readily-realisable assets to maintain appropriate liquidity.

Welcome to Cromwell's flagship Cromwell Australian Property Fund, offering exposure to both listed and unlisted property.

Disclaimer

* Total return figure annualised as at 31 August 2014. Past performance is not an indication of future performance. Performance is not guaranteed and is subject to the assumptions and risks contained in the PDS.

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this advertisement and is the responsible entity of, and the issuer of units in, the Cromwell Australian Property Fund ARSN 153 092 516 (the Fund). Before making any investment decision in relation to the Fund, it is important that you read the product disclosure statement dated 24 September 2013 (PDS). The PDS is issued by CFM and is available from www.cromwell.com.au or by calling Cromwell Investor Services on 1300 276 693. Applications for units can only be made on the application form accompanying the PDS. This advertisement has been prepared without taking into account your objectives, financial situation or needs. In making an investment decision, you should consider the PDS and assess, with or without your financial or tax adviser, whether the Fund fits your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this advertisement. CFM and certain related parties may receive fees from the Fund and these fees are disclosed in the PDS. Any investment, including an investment in the Fund, is subject to risk. Capital growth, distributions, and tax consequences cannot be guaranteed. 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.

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

Investment Strategy

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The Fund has been constructed to provide a tax advantaged monthly distribution plus potential for capital growth1, by investing in a portfolio of listed and unlisted property investments.

The Fund will initially hold units in the Cromwell Phoenix Property Securities Fund (“PSF”) and the Cromwell Direct Property Fund (“DPF”)2.

  • PSF provides the Fund with exposure to listed property securities that are predominantly Australian Real Estate Investment Trusts (“A-REITs”) listed on the ASX. Over time, the Fund may also invest in other property securities funds or hold listed property securities directly.
  • DPF provides the Fund’s direct property exposure.
  • The Fund may also hold up to 30% of assets in cash when CFM considers it prudent, including for liquidity, pending new investments or when available investment opportunities are considered to be relatively unattractive in value terms.

Features

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  • Diversification through exposure to listed property securities and unlisted direct property investments
  • Clear asset allocation and investment limits
  • Suggested investment time frame five to seven years
  • Distributions of 6.00 cpu pa paid monthly1
  • Minimum initial investment $10,0004
     

Experienced Investment Managers

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Cromwell Funds Management Limited manages the Cromwell Direct Property Fund, through which the Australian Property Fund gains its exposure to unlisted direct property investments. Since 1998, Cromwell has built a portfolio of properties under management valued in excess of $3.5 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.*

Phoenix Portfolios Pty Ltd manages the Cromwell Phoenix Property Securities Fund, through which the Australian Property Fund gains its exposure to listed property investments. Phoenix is an Australian-based boutique investment management firm that specialises in listed property. The highly experienced team at Phoenix has a long and successful track record of managing portfolios of Australian listed property securities. Phoenix undertakes proprietary research on individual securities in order to determine the most attractive investment opportunities for its clients.

* Cromwell's property portfolio outperformance of the IPD Australian All-Fund Universe is during the 15 year period to 30 March 2015. 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 product disclosure statement dated 24 September 2013 (“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 History

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Distribution and reinvestment prices

Distribution

Period 
Ending 

Distribution
Amount

Reinvestment
Unit Price

Ex Distribution 
Exit Price

FY16 Monthly Distribution

31-May-16

0.005

1.2117

1.2105

FY16 Monthly Distribution

30-Apr-16

0.005

1.1969

1.1957

FY16 Monthly Distribution

31-Mar-16

0.005

1.1880

1.1868

FY16 Monthly Distribution

29-Feb-16

0.005

1.1773

1.1761

FY16 Monthly Distribution

31-Jan-16

0.005

1.1722

1.1710

FY16 Monthly Distribution

31-Dec-15

0.005

1.1740

1.1728

FY16 Monthly Distribution

30-Nov-15

0.005

1.1496

1.1484

FY16 Monthly Distribution

31-Oct-15

0.005

1.1630

1.1618

FY16 Monthly Distribution

30-Sept-15

0.005

1.1432

1.1421

FY16 Monthly Distribution

30-Aug-15

0.005

1.1203

1.1192

FY16 Monthly Distribution

31-Jul-15

0.005

1.1336

1.1324

2016 Total Annual Distribution

 

0.055

   

FY15 Monthly Distribution

30-Jun-15

0.005

1.1132

1.1121

FY15 Monthly Distribution

31-May-15

0.005

1.1349

1.1338

FY15 Monthly Distribution

30-Apr-15

0.005

1.1258

1.1247

FY15 Monthly Distribution

31-Mar-15

0.005

1.1325

1.1314

FY15 Monthly Distribution

27-Feb-15

0.005

1.1343

1.1332

2015 Total Annual Distribution

 

0.025