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Australian Unity Property Income Fund |
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Rebate |
n/a |
| Minimum
Investment |
$1,000 |
About
the Fund
The Fund is
a 'hybrid' property fund with a primary focus on
delivering income to investors. By hybrid, we mean
that the Fund invests across a range of property
asset types including direct property real estate,
unlisted property trusts, and listed property
securities.
Through investing in a range of different property
assets and cash, the Fund is able to maintain
liquidity, generally enabling investors to request
withdrawals when they choose. |
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Who is
the investment manager?
Australian Unity Property Limited is the investment
manager for the direct and unlisted property
portfolio.
Australian Unity Funds Management Limited manages a
part of the investment allocation to listed property
securities, and outsources the management of the
remaining component to specialist external
investment managers.
Australian Unity Funds Management Limited manages
the cash component of the Fund.
What
does the Fund invest in?
The Fund
generally invests in the following types of property
investments:
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Direct property real estate |
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Unlisted property trusts – these are unit trusts that predominantly
invest in direct property and are not listed on a stock exchange |
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Listed property securities – these are trusts listed on an Australian
stock exchange that invest mainly in direct property and related activities. |
The properties held directly or through unlisted or listed property
securities include (but are not limited to) the following property sectors:
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Commercial (e.g. office buildings) |
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Retail (e.g. shopping centres) |
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Industrial (e.g. warehouses) |
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Healthcare (e.g. hospitals or medical centres) |
The Underlying Fund’s property portfolio is diversified by geographic
location and sector to help reduce risk.
Typically the Underlying Fund invests 40-70% of its assets in direct
property and unlisted property investment vehicles, 20-50% in
listed property securities, with the balance held in cash and similar
investments.
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Australian Unity Property Income Fund – Retail Units |
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APIR Code |
YOC0001AU |
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Inception date |
March
2005 |
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Minimum Initial Investment |
$1,000 |
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Minimum Additional Investment |
$500 |
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Minimum Regular Saving Plan |
$100
per month |
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Entry/Contribution Fee |
4.10% |
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Minimum Withdrawal Amount |
$1,000 |
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Exit/Withdrawal Fee |
Nil |
|
Management Costs |
1.85%
pa |
|
Buy/Sell Spread |
Buy:
1.35% Sell: Nil |
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Income Distributions |
Quarterly |
What is the
Fund’s investment process?
The investment
manager uses a top down thematic view to assess the various
property markets in which the Fund operates. A bottom up
view is used to identify undervalued property across various
property sectors, investment structures and geography. Using
this analysis, and separate yield analysis, a preferred
allocation between direct property, unlisted and listed
property securities is obtained.
The investment manager will use the above information in
assessing and investing in direct property assets and
unlisted property securities.
The appointed listed property trust managers undertake their
own analysis in creating and managing their investment
portfolios.
Direct and unlisted property
The direct and unlisted property portfolio is diversified by
sector (e.g. offices, retail, industrial) tenant and
geographic location.
In the asset selection process the investment manager seeks
the following:
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Quality – It is the Fund’s strategy to acquire only quality properties. |
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Location – The Fund will seek to reduce risk by holding properties in
various geographic locations. |
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Services & Type – The Fund will acquire properties of various types
(e.g. industrial, commercial, retail), to diversify its revenue sources. |
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Tenants – The Fund’s investments will result in exposure to multiple
tenants, reducing overall portfolio risk. Tenant strength is an
important consideration in the asset purchase decision. |
The Fund invests in a number of unlisted
property trusts and property syndicates operated by specialist property
funds managers, which may include related parties.
A combination of qualitative and
quantitative factors is considered in making investment decisions.
Listed property securities
The fund gains exposure to listed property
securities by outsourcing to high quality investment managers.
Exposure to listed property securities
enables a greater diversification of assets than would be possible through
direct property only, as well as providing the Fund with enhanced
liquidity.
Cash
A component of the Fund will be held in cash
and similar investments primarily for liquidity purposes.
Derivatives
It is not the investment manager’s current
policy to use derivatives within the Fund for gearing purposes or for
speculative activities. The investment manager may use derivatives for
hedging purposes and for implementing portfolio positions,
providing the asset class range is not exceeded.
Although this Fund does not typically use
gearing, from time to time some underlying investments may themselves
use gearing.
More information
The Fund’s
performance and unit prices are available to view at:
www.australianunityinvestments.com.au/pif
Important information
This investment product is issued by Australian Unity
Property Limited ABN 58 079 538 499, AFS Licence No 234455.
This information is intended only to provide a broad summary
of this financial product. Investment decisions should not
be made upon the basis of its past performance or
distribution rate, since future returns will vary. You
should refer to the current Product Disclosure if you wish
to know more about this product. The information provided
here was current at the time of publication only.
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