19 September 2012
Cromwell Property Group (ASX: CMW) announced today that its unlisted syndicate, the Cromwell Ipswich City Heart Trust, has been certified by the Responsible Investment Association of Australasia (RIAA).
The Trust is the first single property investment vehicle to be certified as a Responsible Investment by the RIAA.
Cromwell has demonstrated its commitment to incorporating environmental, social and corporate governance ("ESG") issues into its investment analysis and has adopted a series of ESG based criteria against which the Trust and its underlying asset could be benchmarked.
Cromwell Director of Funds Management, Daryl Wilson said the environmental performance of Cromwell’s buildings is an important part of the Group’s property management strategy and so seeing this consideration flow through to the investment vehicles was a natural progression.
"For a long time we’ve demonstrated that sustainability can be a pathway to profitability at an asset level and we look forward to demonstrating that the same is true for investors in commercial property funds." Mr Wilson said.
RIAA Interim General Manager, Sarah Clawson said she was pleased to see Cromwell join the certified product list and increase responsible investment participation from the property sector.
"With the addition of Cromwell’s latest property syndicate, investors who take into consideration RIAA certified products now have the option to include exposure to direct commercial property, providing further diversity to their investment portfolios." Ms Clawson said.
Cromwell is currently in the final stages of a $49 million capital raising for the Ipswich City Heart Trust, and expects the Trust to be closed to new applications by the end of October.
For further information on the Cromwell Ipswich City Heart Trust, visit www.cromwell.com.au/ich
Daryl Wilson on 0402 046 883.
Cromwell Funds Management Limited ABN 63 114 782 777, AFSL 333214 ("CFM") has prepared this update and is the responsible entity and of the issuer of units in the Cromwell Ipswich City Heart Trust ARSN 154 498 923 ("the Trust"). Before making any decision to acquire or hold units in the Trust, it is important that you read the product disclosure statement dated 16 December 2011 ("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. Before making an investment decision, investors should consider the PDS and assess, with or without a financial adviser, whether the product is appropriate given the investor’s objectives, financial situation or needs. The Trust is not liquid and there is no cooling-off period available. Forward-looking statements are provided as a general guide only and are subject to the risks and assumptions set out in the PDS. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this report. If you acquire units in the Trust, CFM will receive fees as disclosed in the PDS.