A real income solution for your clients.
Cromwell Direct Property Fund
A real income solution for your clients.
Cromwell Direct Property Fund
The Cromwell Direct Property Fund (Fund) is an open-ended unlisted property fund that aims to provide investors with monthly distributions with the potential for tax-deferred income and capital growth3Â through investing in a diversified portfolio of quality property assets.
The Fund is not currently offering the Limited Monthly Withdrawal Facility, effective from 1 October 2023. In the lead up to the Fund’s Periodic Withdrawal Opportunity, anticipated to occur in or around July 2025, the fund from the 13th January 2025 has temporarily suspended accepting applications and offering the Distribution Reinvestment Plan (DRP).
Cromwell Direct Property Fund Periodic Withdrawal Opportunity (Liquidity Event)
A Liquidity Event for the Cromwell Direct Property Fund (the Fund) is proposed to commence in July 2025. In May, we will send you an information pack regarding the Liquidity Event which will provide a detailed market update and commentary to assist with advising clients whether to submit a redemption requeston their options and the process involved.
Liquidity Events are intended to be held every five years, providing Unitholders with the opportunity to redeem a portion or the entirety of their unitholding. In some circumstances, due to extenuating factors, Cromwell Funds Management Limited (CFM), as the Responsible Entity for the Fund, may choose not to offer, or to postpone, a Liquidity Event where it believes proceeding with the event would not be in the best interests of all Unitholders.
The information pack you receive will contain a notice advising the clear timeframe in which to submit a redemption request. The current indicative timetable is shown below1
| Â Key Date | Â Event |
|---|---|
| Â 24 June 2025 | Â Record Date |
| Â 1 July 2025 | Â Liquidity Event Notice Period commences |
| Â 31 July 2025 | Â Liquidity Event Notice Period concludes (5pm AEST) |
1 Indicative only and subject to change.
Requests must be submitted via email or post to our registry provider, Boardroom Pty Limited, on the specific form provided, and strictly by the time and date noted on the form. We will email the form to you prior to the Notice Period commencing, and it will also be available on the DPF website.
If your client holds an investment on a IDPS Platform, redemptions can be processed electronically through the IDPS provider, we recommend you contact your provider as cutoff times may vary. CFM will then process redemption requests in accordance with the rules of the Fund.
IDPS Operators can lodge withdrawal requests for their underlying clients by sending the registry electronic messages, during the Notice Period, to redeem via Calastone.
Please note if you currently have any pending redemption requests suspended in your system, these must be cancelled prior to lodging withdrawal requests during the Notice Period.
- if withdrawal requests total less than 50% of the Fund’s units on issue, CFM will seek to satisfy those requests within six months after the end of the notice period (i.e. by 31 January 2026, under the current timetable).
- It is important to note redemptions will not be paid immediately after the notice period closes, as funding  these will require a combination of asset sales and potentially new capital invested in the Fund. Withdrawal requests may need to be met over several payments rather than one lump sum.
- If withdrawal requests cannot be satisfied within that six-month window, or if withdrawal requests total 50% or more of the Fund’s units on issue, CFM will immediately take steps to commence winding up the Fund and distributing net proceeds to investors.
- Wind up of the Fund requires all assets to be realised including identifying purchasers for units in investments held by the Fund in underlying property trusts (Cromwell Riverpark Trust and Cromwell Property Trust 12). As such, CFM cannot provide  certain timing on when investors will receive from the wind up of the Fund.
More detail will be contained in the information pack, however in the meantime please reach out to your BDM or our Investor Services team at invest@cromwell.com.au or phone 1300 268 078 if you have any questions or require any further information regarding the Liquidity Event.
Fund snapshot
The Cromwell Direct Property Fund provides exposure to property throughout Australia either directly or through investments in unlisted property trusts4,5.
Fund Objective
The Fund aims to provide investors with monthly distributions with the potential for tax-deferred income and capital growth3 through investing in a diversified portfolio of quality property assets.
Investment Strategy
Cromwell Funds Management (CFM) plans to deliver on the Fund’s 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.
Investments
The Fund currently delivers diversification across nine properties located throughout New South Wales, Queensland, Victoria, South Australia and the Australian Capital Territory4,5.
Benchmark
Performance is benchmarked against the PCA / MSCI Unlisted Retail Property Fund Core Index.
Fund Inception
August 2013.
Platform availability
AMP PortfolioCare
Asgard
Clearstream
BT Panorama
North
My North
Hub 24
Macquarie Wrap
Netwealth
Powerwrap
Colonial First State (CFS) First Wrap
Praemium
uXchange
Dash
Mason Stevens
FAQs
View all of your Cromwell client unit holding details such as;
- unit holdings
- statements
- holdings balance
Send an email to invest@cromwell.com.au, providing the following information;
- Name of adviser office
- Advisers related to the office
- Adviser code (this can be found on AdviserServe)
- Or contact investor services on 1300 268 078 or email invest@cromwell.com.au
If you are changing Dealergroup please provide the following information to the Investor Services team via email: invest@cromwell.com.au
- Letter of release from old Dealergroup
- Letter of acceptance from new Dealergroup
Please provide email instruction from the Adviser Office with the client listing and the new Adviser contact details to invest@cromwell.com.au.
Request a Product Disclosure Statement
Thank you for your interest in the Cromwell Direct Property Fund. Please complete the form below to receive the Fund's PDS.
Key documents
The information in this section of the website is provided for the use of licensed financial advisers and wholesale investors only. In no circumstances is it to be used by a potential investor for the purposes of making a decision about a financial product or class of products. Any advice is not personal advice and has been prepared without taking into account investors objectives, financial situation or needs.
By electing to continue, you confirm that you are a licensed financial adviser or a wholesale investor.
Key resources
The Cromwell Direct Property Fund will cease to offer redemptions for a period of 6 months from 1 October 2023. View the continuous disclosure notice dated 29 September 2023.
Cromwell follows ASIC’s good practice guidance for website disclosure of material information. This means that all material information in relation to the Cromwell Direct Property Fund will be posted on the Cromwell Direct Property Fund continuous disclosure page as soon as practicable after Cromwell becomes aware of it.
View the Cromwell Direct Property Fund continuous disclosure.
View tax information for the fund.
Property portfolio
Contact us
National Manager – Adviser Distribution – VIC/SA/WA/TAS
T: 0438 046 893
E: Daniel.Thomas@cromwell.com.au
State Manager – Adviser Distribution – QLD/NSW/ACT/NT
T: 0467 284 727
E: Narelle.Avery@cromwell.com.au
Footnotes
- Based on distributions of 4.75 cents per unit p.a. and unit price of $0.7418 as at 30 April 2025.
- As at 30 April 2025. After fees and costs. Performance data for periods longer than one year have been annualised. Past performance is not a reliable indicator of future performance.
- Capital growth, distributions and tax consequences are not guaranteed and are subject to the assumptions and risks contained in the PDS. Past performance is not a reliable indication of future performance.
- Positions in the Fund are subject to change. Calculated using the Fund’s unaudited financial management accounts as at 30 April 2025.
- The Fund holds an indirect interest in the property via an investment in the underlying managed investment scheme, of which CFM is the responsible entity. The underlying scheme is closed to investment. For further information, see Section 9.7 of the PDS.
- The rating published April 2025 for the Cromwell Direct Property Fund is issued by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec Research). Ratings are general advice only and have been prepared without taking account of investors’ objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec Research assumes no obligation to update. Lonsec Research uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2025 Lonsec. All rights reserved.
Important information
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 notice and is the responsible entity of, and the issuer of units in, the Cromwell Direct Property Fund ARSN 165 011 905 (Fund). In making an investment decision in relation to the Fund, it is important that you read the product disclosure statement dated 17 November 2020 (PDS). A target market determination (TMD) is available. The PDS, TMD and application form are issued by CFM and are available from www.cromwell.com.au/dpf or by calling Cromwell’s Investor Services team on 1300 268 078. This content has been prepared without taking account of your objectives, financial situation or needs. In deciding whether to acquire or continue to hold an investment you should consider the PDS and assess, with (or without) your financial adviser, whether products fit 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 notice. 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.
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 notice 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.