Led by Scott McLennan as Head of Distribution, the expansion of the distribution team reflects the strong growth of Charter Hall’s Direct business from $3 billion to over $8 billion since 2018.

Charter Hall Direct CEO, Steve Bennett said, “Our investment in growing the distribution team reflects the strong demand for Direct’s leading unlisted property funds and a record year of capital inflows into our suite of funds.

“As the Head of Distribution, Scott is responsible for the expansion of the distribution team in each of the states. Scott has been with Charter Hall for five years and is well-positioned to lead the team in further growth out of our Sydney office.”

Mr McLennan said, “The state-based distribution team is designed to better service our growing adviser community in all states and territories. Having our team located close to our clients means we can work collaboratively together to further enhance client outcomes in terms of both service and product offerings.”

The new appointments include:

• Renee Oldfield joins as State Distribution Manager for Western Australia and South Australia, with more than 20-years’ industry experience. Renee has a diverse background in financial services advising across equity markets, property funds management cash and fixed income markets at Macquarie Bank, Aspen Group and FIIG Securities.
• Paul Ramsay has been appointed State Distribution Manager for Victoria and Tasmania, based in Melbourne. He joins the team from Franklin Templeton, where he was a key account manager. Paul also has more than 20-years’ experience in the funds management industry including the role of national manager-strategy investments at Australian Unity Wealth.
• Mark Weingarth has been appointed as the State Distribution Manager for New South Wales. He joins Charter Hall Direct from Macquarie Group where he led the sales and distribution strategy for Digital Portfolio Management and Managed Accounts. He has a strong history of working with advisory firms to improve client experience.
• Craig Harding and Marco Triani who have been with Charter Hall for more than five years also join the distribution team. Craig Harding has been appointed Business Development Manager for Queensland and Northern Territory and Marco Triani has been appointed Key Account Manager and will be based in NSW.

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Nick Kelly

Charter Hall Group, one of Australia’s leading integrated property groups with $18 billion of assets under management, has announced the launch of its fourth Direct Industrial Fund (DIF4) which features a target income yield of 6.5%[1] plus capital growth.

DIF4 will invest in a portfolio of high quality industrial property that is 99.8% occupied and has a long weighted average lease expiry (WALE) of more than 15 years.

The initial portfolio comprises exposure to a portfolio of 27 industrial logistic assets geographically dispersed throughout Australia. The total gross assets of DIF4 is initially $84 million and is expected to grow in future years to over $400 million as additional equity is raised and deployed.

DIF4 will be conservatively geared with a target range of 30-45% which provides yield and growth enhancement to an initial 15-year WALE portfolio.

DIF4 has been launched to coincide with the realisation of the DIF1 portfolio where investors realised a 14.2% IRR over the six-year period since inception.

Charter Hall head of Direct Property Nick Kelly said: “The DIF4 launch builds on the successful history of our Direct Industrial Funds series, with the first three funds having raised over $400 million in equity, and have all outperformed the benchmark MSCI/IPD Unlisted Core Wholesale Property Fund Index over the life of the fund.

“Like its predecessors, DIF4 is designed to provide investors with a sustainable, relatively high income yield plus the prospect of capital growth from an investment with low correlation to equity and bond markets. It will suit investors who seek a stable, tax advantaged income paid quarterly looking to invest for a five-year term.

“Importantly, DIF4 provides an institutional-quality investment opportunity to individual private investors, including the million strong SMSF member market, who typically are seeking strong and stable yields in a low interest rate environment.” Mr Kelly added.

Steve Bennett, Direct Fund Manager said: “Direct property, also known as unlisted property, as an asset class has been a leading performer when compared to other investment markets. The outlook continues to be attractive for the industrial sector. DIF4 provides the individual investor the opportunity to gain exposure to this asset class which exhibits the critical qualities of long WALE, high quality tenants, with conservative gearing”.

Charter Hall has two of the top ten performing funds in the Property Council of Australia’s latest unlisted retail sector index compiled by IPD/MSCI.

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[1] DIF4’s forecast average distributions for the initial portfolio of 6.5% pa over the period from 1 November 2016 to 30 June 2017 (annualised) and the subsequent financial year to 30 June 2018

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