Fund Performance

The Fund commenced in March 2015 and its performance is benchmarked against the S&P/ASX200 A-REIT Accumulation Index

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

The Fund invests in ASX-listed property securities and property-like investments.

Investment Strategy

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The Fund will invest primarily in large, well-established Australian property securities listed on the ASX, which hold underlying investments including office, retail, industrial and hotel assets. To broaden the universe of investment opportunities, the Fund may also invest in a selected range of other assets, including listed property related securities such as infrastructure, property developers, property fund managers, international listed property securities, cash and fixed interest. 

Individual stock positions can deviate from the Benchmark by plus or minus 5% for index stocks. Non-index stocks, which have an index weight of zero, can each represent up to a maximum of 5% of the Fund.

Features

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Award Winning Investment Management

Cromwell has appointed boutique equity investment manager Phoenix Portfolios Pty Ltd (“Phoenix”) to manage the Fund’s investments. Phoenix have significant expertise in the assessment and selection of listed property and property related securities and this Fund is the only way retail investors can gain exposure to their stock selection abilities.

Diversified Property Portfolio

The Fund provides exposure to a broad range of ASX-listed property and property-related securities. The Fund’s benchmark is the S&P/ASX 200 A-REIT Accumulation Index (“the Benchmark”), but importantly it also has the ability to invest in high-value property related stocks outside the Benchmark index, providing genuine portfolio diversification.

Low volatility return

The Fund aims to provide a total return (after fees) in excess of the Benchmark with lower volatility.

Low fees

There are no entry or exit fees. Cromwell currently charges an ongoing management fee of just 0.65% pa of the Fund’s gross asset value, with annual administration costs estimated to be up to 0.15% of the Fund’s gross asset value.

Quarterly Distributions


Distributions are paid quarterly or can be reinvested to compound growth.

Liquidity


Daily withdrawals usually paid within five business days1.

Potential for capital growth2

Minimum investment $10,0003

How to apply?

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Direct investors should complete the Application Form and the relevant Investor Identification Form contained in the Application Pack and return them to the Fund’s Registrar. If you have any questions regarding the Fund, please contact your financial adviser or Cromwell Investor Services directly on 1300 276 693 or email invest@cromwell.com.au

Experienced Investment Manager

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Phoenix is a value manager, meaning it looks to exploit market conditions by identifying securities whose fundamental attributes are inconsistent with their current prices - buying securities that represent good value and selling once they become overpriced. Phoenix utilises detailed, yet standardised, financial models allowing a large universe of securities to be reviewed in order to determine the most attractive investment opportunities and create a diversified portfolio.

 

Risk Disclosure

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All investments carry risk. You should consider the Fund’s risks in light of your personal circumstances and your attitude towards risks.

The key risks of investing in the Fund are typical of the risks associated with managed investment schemes that invest in shares of Australian listed companies. It is important that you know that the value of your investment will go up and down over time, the Fund’s returns will vary over time, future returns may differ from past returns, and returns are not guaranteed. All of this means that there is always the chance that you could lose money on your investment.

As set out in Section 4 of the product disclosure statement dated 10 March 2015 (“PDS”), the significant risks for the Fund are security specific risk, market risk, legal and regulatory risk, manager risk, derivative risk, and liquidity risk.

You should read the important risk information in Section 4 of the PDS before making a decision. The material may change between the time when you read the PDS and the day that you acquire the product.

Risk level

CFM believes that the Fund’s risk level is medium. The risk of your investment falling in value over the short term is high when compared to investments in managed investment schemes that invest in asset classes such as cash or fixed interest securities. However, the Fund offers potentially more favourable returns over the medium to long term than cash or fixed interest securities. This is why the minimum suggested timeframe for an investment in the Fund is at least three to five years.

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 Quarterly Distribution

31-Dec-16

0.0129040

1.0853

1.0831

FY17 Quarterly Distribution

30-Sep-16

0.0126049

1.1165

1.1143

2017 Total Annual Distribution

  0.0255089    

FY16 Quarterly Distribution

30-Jun-16

0.0121465

1.1447

1.1424

FY16 Quarterly Distribution

31-Mar-16

0.0128764

1.0601

1.0580

FY16 Quarterly Distribution

31-Dec-15

0.0127990

1.0111

1.0091

FY16 Quarterly Distribution

30-Sep-15

0.0122420

0.9671

0.9652

2016 Total Annual Distribution

  0.0500639    

FY15 Quarterly Distribution

30-Jun-15

0.0116348

0.9579

0.9560

FY15 Quarterly Distribution

31-Mar-15

0.0026986

0.9953

0.9933

2015 Total Annual Distribution

  0.0143334    

Disclaimer & Footnotes

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Units are issued by the Fund at a unit price determined in accordance with the Responsible Entity’s Unit Pricing Policy. Per the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority’s (APRA's) Unit Pricing: Guide to Good Practice, investors will receive compensation for any material unit pricing errors.  In accordance with these guidelines the Fund does not pay exited members compensation for material unit pricing errors where the amount of any compensation payable is less than $20.

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (“CFM”) has prepared this webpage and is the responsible entity of, and the issuer of units in, the Cromwell Phoenix Core Listed Property Fund ARSN 604 286 071 (“Fund”). In making an investment decision in relation to the Fund, it is important that you read the product disclosure statement dated 10 March 2015 ("PDS"). The PDS is issued by CFM and is available from www.cromwell.com.au/pcf or by calling Cromwell Investor Services on 1300 276 693. Applications for units in the Fund can only be made on the application form accompanying the PDS. This webpage has been prepared without taking into account your objectives, financial situation or needs. Before 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 webpage. If you acquire units in the Fund, CFM and certain related parties may receive fees from the Fund and these fees are disclosed in the PDS.

Phoenix Portfolios Pty Ltd ABN 80 117 850 254 AFSL 300302 (“Phoenix”) is the investment manager of the Fund. None of CFM, Phoenix, nor their related entities, directors or officers makes any promise or representation, or gives any guarantee as to the success of the Fund, distributions, the amount you will receive on withdrawal, your income or capital return or the tax consequences of investing.

Please note: Any investment, including an investment in the Fund, is subject to risk. 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. See the PDS for examples of key risks. Past performance is not indicative of future performance. Forward-looking statements in this webpage are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Fund are subject to the risks and assumptions set out in the PDS.

  1. Withdrawals cannot be guaranteed and are subject to the assumptions and risks set out in  the PDS.
  2. Capital growth, distributions and tax consequences cannot be guaranteed. The performance of the Fund is subject to the risks and assumptions set out in the PDS.
  3. CFM reserves the right to vary minimum amounts. Indirect investors should contact their investor directed portfolio service  (IDPS) operator for minimum transaction and balance requirements, reinvestment policies, fees and other cost information.