Cromwell Funds Management Limited (Cromwell) has announced the Cromwell Phoenix Property Securities Fund (the Fund) has reopened to investors.
The Lonsec and Zenith ‘Highly-Recommended’ Fund reopened on 29 September with additional capacity of $30 million (based on the Investment Manager’s current capacity). The Fund was last open to new investors in February 2015.
As at 31 August 2017, the Fund had returned 9.1 percent p.a. since inception in 2008 (after fees and costs), compared to the S&P/ASX 300 A-REIT Accumulation Index benchmark of 3.4 percent p.a. over the same period.
Hamish Wehl, Head of Retail Funds Management at Cromwell, said the Fund’s nine-year track record of outperformance and award-winning streak spoke for itself.
“This is a unique opportunity to access one of the top-performing property securities funds in Australia. The fund has been a consistent top performer and this reflects the skill of the Phoenix Portfolios investment team,” Mr Wehl said.
The benchmark-unaware Fund invests in ASX-listed property securities.
“The Fund is truly benchmark unaware and actively managed, as indicated by the clear variance between the Fund’s portfolio and the S&P/ASX 300 A-REIT Accumulation Index,” Mr Wehl said.
The Fund has a self-imposed FUM capacity constraint, best positioning the investment manager to outperform the benchmark.