Centuria Diversified Property Fund

The Centuria Diversified Property Fund (CDPF) is an open-ended unlisted property fund that aims to deliver tax effective monthly income and the potential for capital growth by investing in a diversified property portfolio. The Centuria Diversified Property Fund has initially invested in Centuria unlisted property funds, and will acquire direct assets in line with its investment strategy as it grows.

You can invest with as little as $10,000. There is no minimum or maximum term of investment^.

Unit price
$1.4214

141
property assets

7.50 years1
Portfolio WALE

97.98%1
Portfolio
occupancy

Fund Distributions & Exit Prices

(previous 6 months)

Sep-18Oct-18Nov-18Dec-18Jan-19Feb-19
Distribution (CPU*)0.57530.59450.57530.59450.59450.5372
Ex Distribution
Exit Price ($)
1.35241.34001.34071.38881.40341.4171

Fund Performance1

6 mth (%)1 yr (%)2 yr (% p.a.)Since inception (% p.a.)
Distribution2.624.985.075.87
Cap Growth3.802.836.6813.91
Total return6.427.8111.7519.78

Fund Objective2

The Centuria Diversified Property Fund objective is to provide tax effective monthly income and the potential for long term capital growth by investing (directly and indirectly via investments in unlisted property schemes which invest in direct property) in a diversified portfolio of predominantly office, industrial and retail property within Australia as well as in liquid investments.

The following table reflects the Fund’s target asset allocation, and is a guide only and, at times, the actual asset composition of the Fund may be different from the target.

Asset ClassTarget
Asset Allocation (%)
Direct Property80
A-REITs15
Cash or cash-like products5
TOTAL100

 

Fund size
$50.73m1

Amount available for withdrawal
$18,827,1603

Portfolio gearing
27.93%1,4

  • 8 Australia Ave, Sydney Olympic Park

  • 2 Wentworth St, Parramatta

  • 19 Corporate Dr, Cannon Hill

  • The Zenith, Chatswood

  • 80 Grenfell St, Adelaide

  • 60 Brougham St, Geelong

  • Havelock House, Perth

  • Scarborough House, Woden, ACT

  • 8 Central Ave, Eveleigh

  • 203 Pacific Highway, St Leonards

  • 1231 Sandgate Road, Nundah

  • Data61 building, Eveleigh

  • BIOMED Building, Eveleigh

  • International Business Center, Eveleigh

Why Centuria?

Centuria Capital Group (Centuria) is an Australian Securities Exchange-listed specialist fund manager with $5.6 billion1 of assets under management. Centuria Property Funds Limited (ABN 11 086 553 639, AFSL 231149), a wholly-owned subsidiary of Centuria Capital Group (Centuria), is the Responsible Entity of the Centuria Diversified Property Fund (CDPF) (ARSN 611 510 699).

Centuria offers investments in listed and unlisted property across 70+ high quality office and industrial buildings around Australia. We are a relationship business, forging close connections with investors and actively managing properties to improve usability and attract and retain good tenants. We see this as our competitive advantage.

The unlisted business has a 20 year heritage and in that time, has completed 37 unlisted property funds1,5.


Centuria’s Value Add Investment Philosophy

Centuria’s investment philosophy is founded on an active management approach to real estate where relationships are key and there is the potential for value to be added at all stages of the investment process (acquisition, ownership, management and disposal).

Centuria believes it has a particular strength in identifying assets that require intensive asset management to maximise returns and has an in-house team to deliver the requisite range of value-add services. Centuria does not try to predict broader macro economic trends but instead believes that an asset that is well acquired and actively managed will outperform a passive approach through the full economic cycle.


Centuria’s Investment Process

Centuria believes in a “hands-on” approach to managing property assets. Unlike a lot of property fund managers, Centuria does not outsource its property management to real estate agents (although property management may be outsourced in remote locations or for special purpose assets).

Centuria has a fundamental belief that it can deliver better returns from its property assets by having a closer relationship with the tenants and a better understanding of the buildings themselves.

 


Centuria Diversified Property Fund – Portfolio*

The CDPF is a unitholder in the following Centuria unlisted property funds. There are additional unitholders in these funds so these units effectively reflect a partial ownership of the underlying properties. The CDPF also invests in Cash and an ASX-listed A-REIT which are also included below.

*Asset allocation as at 31 December 2018
CDPF Asset allocation

The Centuria Diversified Property Fund targets to invest 80% of the fund in direct property (real property and units in unlisted property funds). The underlying properties in these Centuria unlisted property funds are shown below:

^ Redemptions are limited to the terms detailed in the PDS and are subject to CDPF’s liquidity policy.
* CPU = Cents per unit

#Core Property ratings disclaimer:
The Core Property rating (assigned in August 2017) presented in this document has been prepared and issued by Core Property Research Pty Ltd (“Core Property”), which is an Authorised Representative ASIC number 001257225 of Odyssey Capital Funds Management Ltd (AFSL No. 297283), and trading as Core Property. Whilst the information contained in the report has been prepared with all reasonable care from sources that Core Property believes are reliable, no responsibility or liability is accepted by Core Property for any errors, omissions or misstatements however caused. Past performance information is for illustrative purposes only and is not indicative of future performance. The Core Property publication is not and should not be construed as, an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Any opinion contained in the Report is unsolicited general information only. Neither Core Property nor the Participant is aware that any recipient intends to rely on this Report or of the manner in which a recipient intends to use it. To access the full report, please click here. The rating is subject to change without notice and Core Property assumes no obligation to update the report.

Lonsec ratings disclaimer:
The Lonsec Rating (assigned September 2018) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445. The Rating is limited to “General Advice” (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial product(s). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Centuria product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria.

For further information regarding Lonsec’s Ratings methodology, please refer to our website at: http://www.lonsecresearch.com.au/research-solutions/our-ratings

CA-CPFL-12/11/18-00869