Distribution Update

As advised, the annual distribution for the Cromwell Ipswich City Heart Trust increased by 1.5 cents per unit (cpu) per annum (p.a.) to 11.0 cpu p.a., with the increase effective from 1 January 2019.

Due to an administrative error, the January 2019 monthly distribution paid to unitholders on Friday 8 February 2019 was paid at the original rate of 9.5 cpu p.a. (0.791667 cpu per month).

We expect to make a further payment of 0.125 cpu on Tuesday 12 February 2019 to address the shortfall in the January 2019 distribution.

Cromwell Funds Management Limited apologises for the inconvenience this error has caused.

If you have any questions in relation to the payment or your unitholding, please contact Cromwell’s Investor Services Team on 1300 268 078 or your financial adviser.

Key Benefits

  1. Fixed 7 year term with no exposure to stock market volatility
  2. Strong yield premium to term deposits
  3. Tax effective investment
  4. Long WALE, leased predominantly to government tenant
  5. Monthly distributions

Yield

yield

7.8%

As at 31 March 20191

Fund Details

This was the first Cromwell trust to be certified as a Responsible Investment by the Responsible Investment Association of Australia. The Trust owns the highly green credentialled City Heart Building in Ipswich, Queensland.

Distribution With low interest rates reducing the returns offered by cash and term deposits, this fund which had commencing distributions of 7.75% pa2, was very well supported by investors.
InvestmentsThis unlisted trust’s asset is the Ipswich City Heart Building completed in November 2013. The Trust was another single property investment opportunity, and the capital raising was well supported by investors attracted by the monthly distribution yield, the quality of the asset and its strong, long-term lease profile.
BenchmarkPCA/IPD Australian Pooled Property Fund Index - Unlisted Core Retail Index
Date commencedDecember 2011

Investment Strategy

The Trust replicated many features of Cromwell’s other unlisted property trusts including the seven year investment period, innovative construction funding structure and long lease term.

How to Apply?

Although the Trust is fully subscribed, it is possible to still gain exposure to it by investing in the Cromwell Direct Property Fund.