Cromwell Phoenix Property Security Fund

Listed property securities via a multi award-winning manager

You should consider PDS and TMD before decide whether to invest or hold units in the fund.

7.4%

TOTAL RETURNS - ANNUALISED SINCE INCEPTION1

1.2132

UNIT PRICE
Unit Price History

3.5%

BENCHMARK OUTPERFORMANCE SINCE INCEPTION2,3

What makes the Cromwell Phoenix Property Securities Fund different?

The Cromwell Phoenix Property Securities Fund (Fund) provides investors with exposure to a diverse portfolio of property securities that possess understandable business model, good governance practices and that are trading below Phoenix Portfolios' assessment of intrinsic value. These are typically smaller, under-researched but attractively priced securities which possess compelling investment fundamentals but are overlooked by many managers due to their size.

This strategic approach of rigorous fundamental research has improved investment manager, Phoenix Portfolios' ability to outperform the Benchmark Index2,3 over the long term.

benchmark chart

Key benefits



Access to boutique investment manager, Phoenix Portfolios



Long-term outperformance of the Benchmark Index2,3



Research philosophy enables the Fund to diversify the exposure and gain a bigger slice of smaller, more attractively priced securities

Fund snapshot

This award winning Cromwell Phoenix Property Securities Fund (Fund) is one of the top performing property securities funds in Australia, with underlying investments chosen by investment manager, Phoenix Portfolios.

Objective The Fund aims to deliver a total return (after fees) in excess of the S&P/ASX 300 A-REIT Accumulation Index over three to five years, with lower overall volatility of capital
Investment strategy Phoenix seeks to achieve the Fund's investment objective by choosing attractively priced securities determined by fundamental bottom-up analysis. It will use detailed yet standardised financial models, allowing a large number of securities to be researched, compared on a relative value basis and updated to capture changes in individual securities and markets
Investments The Fund will invest primarily in Australian property securities listed on the ASX, which hold underlying investments including office, retail, industrial and hotel assets. The Fund may also invest in a selected range of other assets including international listed property securities, cash and fixed interest, as well as a range of property-related securities such as interests in infrastructure funds and property development companies.
Benchmark S&P/ASX300 A-REIT Accumulation Index
Date commenced April 2008
Investment manager Phoenix Portfolios Pty Ltd4

Risk disclosure

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 16 December 2021 (PDS) and the Additional Information Document dated 16 December 2021 (AID), the significant risks for the Fund are security specific risk, market risk, legal and regulatory risk, manager risk, derivative risk, liquidity risk, pandemic related risk, and ESG risk. You should read the important risk information in Section 4 of the PDS and AID 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

Cromwell Funds Management believes 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.

Product Disclosure Statement – 16 December 2021 Additional Information Document - 16 December 2021 Target Market Determination

About Phoenix Portfolios

Established in 2006, Phoenix Portfolios (Phoenix) is a boutique equity investment manager which has built a strong track record across a variety of A-REIT mandates, property securities funds and microcap securities, culminating in numerous industry awards.

Phoenix seeks to be an expert in niche sectors of the market with a focus on in-depth research to develop a knowledge-based competitive edge. Fundamental research, conducted by a highly experienced and stable investment team, has also enabled solid long-term relationships to be developed with the management teams and boards of investee companies, improving the quality and robustness of the research process.

Phoenix Portfolios is jointly owned by staff and an entity within ASX-listed Cromwell Property Group (Cromwell). Joint ownership with staff promotes long-term stability and a strong alignment of interest between employees and investors. Cromwell is an active participant in direct property markets and provides valuable insights into the Phoenix research process.

Phoenix has outsourced all non-investment functions to specialist providers, enabling the team to focus solely on investment activities.

Stuart Cartledge

Stuart Cartledge
Portfolio Manager, Cromwell Phoenix Property Securities Fund

Stuart Cartledge is the Managing Director of Phoenix Portfolios and the portfolio manager for each of the company’s property portfolios/funds. Prior to establishing the business in 2006, Stuart had built a very strong track record in the listed property security asset class in his role as Head of Property Securities at Citigroup Asset Management. Stuart has been actively managing portfolios of domestic securities since 1993 and was instrumental to building the A-REIT business at Citigroup. Stuart holds a master’s degree in engineering and Management from the University of Birmingham and is a Chartered Financial Analyst.

How to invest

Read

A potential investor must read the PDS. A TMD is available.

Review

A potential investor should consider the risks as outlined in section 4 of the PDS, and their appetite to risk in general when considering an investment in the Fund.

Additional Information Document Target Market Determination (TMD) Apply online (Australian investors only)

Contact us



Jonathan Bredin

Relationship Manager

Jonathan has 20 years’ experience in equities markets and investing. He is responsible for maintaining relationships with Cromwell’s direct retail investors.

T: 1300 268 078
E: jonathan.bredin@cromwell.com.au

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