The Cromwell Phoenix Core Listed Property Fund (³the Fund²) is now available to a much wider range of investors after being included as an investment option through Macquarie Wrap.
From 1 July, the Fund will be added to the Macquarie Investment Manager and Macquarie Super and Pension Manager investment menus.
The Fund¹s investment objectives over rolling three year periods are to provide investors with:
- A total return (after fees) in excess of the Benchmark
- Lower volatility of total returns than the Benchmark
- Quarterly distributions that will grow over time
- The opportunity for capital growth over time
Cromwell Funds Management Director Michael Blake said he believed the approval of the Fund for Macquarie Wrap was an indication of the increased demand from financial advisers and dealer groups.
³The Fund is proving extremely popular with investors, and is now the only way for investors to get access to the highly successful, award-winning investment management team at Phoenix Portfolios¹ listed property expertise,² he said.
³Phoenix has been one of the star performers in the Australian listed property funds management industry over recent years and the response to the Fund since it was launched in March reflects their reputation.²
The Fund¹s benchmark is the S&P/ASX 200 A-REIT Accumulation Index (³the Benchmark²). The Fund¹s mandate provides Phoenix Portfolios with the opportunity to out-perform the Benchmark with a tight universe of ³core listed property stocks².
The Fund will primarily have a large and medium cap focus investing in A-REITs. 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.
The Fund was launched following the closure of the Cromwell Phoenix Property Securities Fund (³PSF²) to new investors earlier this year due to capacity constraints. The closure helps to ensure that the PSF¹s future performance is not impacted by its increasing size.
Source: Cromwell Funds Management
