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High Conviction Property Securities Fund

Australia's only high conviction A-REIT fund with an ESG focus

LATEST REPORT:
Making up for lost ground
Overview Performance Portfolio The Team Fund Facts Ratings Reports & Resources

Australia’s only high conviction AREIT fund with an ESG focus.

The Pengana High Conviction Property Securities Fund believes each security has an underlying or intrinsic value and that securities become mispriced at times relative to their value and each other, and seeks to exploit such market inefficiencies by employing an active, value based investment style to capture the underlying cashflows generated from real estate assets and/or real estate businesses.

We believe that responsible investing is important to generate long term sustainable returns. Incorporating ESG factors along-side financial measures provides a complete view of the risk/return characteristics of our property investments.

All positions are high conviction and assessed on a risk-reward basis, resulting in a concentrated portfolio of 10-20 securities

THE FUND IS FOCUSED ON

CAPITAL SECURITY

Transparent NTA valuations are easily verified

INCOME YIELD

A-REITs have reliable income derived from assets with long term leases

SUSTAINABLE GROWTH

Rental growth indexed to CPI.  A concentrated portfolio enables investment in best-positioned assets and sectors at any point in time

LIQUIDITY

Daily priced A-REITs with market capitalisation > $50m

SOUND ESG

A-REITs rank highly on National Australian Built Environment Rating System (NABERS) initiatives. The Fund only invests in proven management teams that have demonstrated good corporate governance

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PERFORMANCE

  • CHART
  • TABLE
  • UNIT PRICES

Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. The Fund incepted on March 11th 2020.  Index performance calculations include a complete month’s performance for March 2020.  Past performance is not a reliable indicator of future performance, the value of investments can go up and down.

Inception 11 March 2020

PERFORMANCE AT 30 Jun 2021
HD-PENPSS-Class A-30/06/2021
1 MTH 1 YEAR SINCE INCEPTION P.A.
High Conviction Property Securities Fund 5.7% 31.8% 21.3%
S&P/ASX 300 A-REIT (AUD) TR Index 5.6% 33.9% 3.3%

Swipe horizontally to see all columns

Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. The Fund incepted on March 11th 2020.  Index performance calculations include a complete month’s performance for March 2020.  Past performance is not a reliable indicator of future performance, the value of investments can go up and down.

Inception 11 March 2020

DATE APPLICATION REDEMPTION DISTRIBUTIONS
26/07/2021 1.2650 1.2587 –
23/07/2021 1.2693 1.2630 –
22/07/2021 1.2586 1.2523 –
21/07/2021 1.2558 1.2495 –
20/07/2021 1.2508 1.2446 –
19/07/2021 1.2513 1.2450 –
16/07/2021 1.2568 1.2506 –
15/07/2021 1.2509 1.2446 –
14/07/2021 1.2580 1.2517 –
13/07/2021 1.2565 1.2503 –
12/07/2021 1.2634 1.2571 –
9/07/2021 1.2513 1.2451 –
8/07/2021 1.2612 1.2549 –
7/07/2021 1.2622 1.2559 –
6/07/2021 1.2548 1.2486 –
5/07/2021 1.2607 1.2544 –
2/07/2021 1.2574 1.2511 –
1/07/2021 1.2524 1.2461 –
30/06/2021 1.2809 1.2745 0.0234
29/06/2021 1.2820 1.2756 –
28/06/2021 1.2760 1.2696 –
25/06/2021 1.2780 1.2716 –
24/06/2021 1.2686 1.2623 –
23/06/2021 1.2728 1.2664 –
22/06/2021 1.2757 1.2693 –
21/06/2021 1.2571 1.2508 –
18/06/2021 1.2593 1.2530 –
17/06/2021 1.2554 1.2492 –
16/06/2021 1.2698 1.2635 –
15/06/2021 1.2641 1.2578 –
11/06/2021 1.2604 1.2541 –
10/06/2021 1.2632 1.2569 –
9/06/2021 1.2372 1.2310 –
8/06/2021 1.2499 1.2437 –
7/06/2021 1.2458 1.2396 –
4/06/2021 1.2325 1.2264 –
3/06/2021 1.2286 1.2225 –
2/06/2021 1.2247 1.2186 –
1/06/2021 1.2087 1.2027 –
31/05/2021 1.2120 1.2059 –
28/05/2021 1.2089 1.2029 –
27/05/2021 1.1963 1.1903 –
26/05/2021 1.1967 1.1907 –
25/05/2021 1.2083 1.2022 –
24/05/2021 1.1914 1.1855 –
21/05/2021 1.1824 1.1765 –
20/05/2021 1.1837 1.1778 –
19/05/2021 1.1633 1.1575 –
18/05/2021 1.1744 1.1685 –
17/05/2021 1.1823 1.1764 –
14/05/2021 1.1825 1.1766 –
13/05/2021 1.1693 1.1634 –
12/05/2021 1.1880 1.1821 –
11/05/2021 1.1982 1.1922 –
10/05/2021 1.1939 1.1880 –
7/05/2021 1.1872 1.1813 –
6/05/2021 1.1841 1.1782 –
5/05/2021 1.1938 1.1878 –
4/05/2021 1.1892 1.1833 –
3/05/2021 1.1823 1.1764 –
30/04/2021 1.1742 1.1683 –
29/04/2021 1.1744 1.1685 –
28/04/2021 1.1707 1.1648 –
27/04/2021 1.1569 1.1512 –
26/04/2021 1.1658 1.1600 –
23/04/2021 1.1674 1.1616 –
22/04/2021 1.1669 1.1611 –
21/04/2021 1.1587 1.1530 –
20/04/2021 1.1664 1.1605 –
19/04/2021 1.1648 1.1590 –
16/04/2021 1.1700 1.1641 –
15/04/2021 1.1521 1.1464 –
14/04/2021 1.1548 1.1490 –
13/04/2021 1.1412 1.1355 –
12/04/2021 1.1402 1.1345 –
9/04/2021 1.1496 1.1438 –
8/04/2021 1.1375 1.1318 –
7/04/2021 1.1307 1.1251 –
6/04/2021 1.1187 1.1131 –
1/04/2021 1.1095 1.1039 –
31/03/2021 1.1144 1.1088 –
30/03/2021 1.1052 1.0997 –
29/03/2021 1.1044 1.0989 –
26/03/2021 1.1105 1.1050 –
25/03/2021 1.1092 1.1037 –
24/03/2021 1.1097 1.1041 –
23/03/2021 1.0981 1.0927 –
22/03/2021 1.0903 1.0849 –
19/03/2021 1.0865 1.0811 –
18/03/2021 1.0781 1.0728 –
17/03/2021 1.0870 1.0816 –
16/03/2021 1.0939 1.0885 –
15/03/2021 1.0707 1.0654 –
12/03/2021 1.0598 1.0545 –
11/03/2021 1.0516 1.0464 –
10/03/2021 1.0558 1.0505 –
9/03/2021 1.0589 1.0536 –
8/03/2021 1.0597 1.0545 –
5/03/2021 1.0596 1.0543 –
4/03/2021 1.0659 1.0606 –
3/03/2021 1.0667 1.0614 –
2/03/2021 1.0699 1.0645 –
1/03/2021 1.0755 1.0702 –
26/02/2021 1.0516 1.0464 –
25/02/2021 1.0617 1.0564 –
24/02/2021 1.0614 1.0561 –
23/02/2021 1.0634 1.0581 –
22/02/2021 1.0511 1.0459 –
19/02/2021 1.0540 1.0488 –
18/02/2021 1.0556 1.0503 –
17/02/2021 1.0678 1.0624 –
16/02/2021 1.0934 1.0880 –
15/02/2021 1.0998 1.0943 –
12/02/2021 1.1059 1.1004 –
11/02/2021 1.1009 1.0954 –
10/02/2021 1.0996 1.0941 –
9/02/2021 1.0877 1.0823 –
8/02/2021 1.1079 1.1024 –
5/02/2021 1.1131 1.1075 –
4/02/2021 1.1073 1.1018 –
3/02/2021 1.1259 1.1203 –
2/02/2021 1.1032 1.0977 –
1/02/2021 1.0986 1.0931 –
29/01/2021 1.0952 1.0897 –
28/01/2021 1.0895 1.0841 –
27/01/2021 1.1006 1.0951 –
25/01/2021 1.1054 1.0998 –
22/01/2021 1.1045 1.0990 –
21/01/2021 1.1048 1.0993 –
20/01/2021 1.0960 1.0905 –
19/01/2021 1.0934 1.0879 –
18/01/2021 1.0845 1.0791 –
15/01/2021 1.0860 1.0806 –
14/01/2021 1.0916 1.0862 –
13/01/2021 1.0887 1.0832 –
12/01/2021 1.0947 1.0892 –
11/01/2021 1.1014 1.0959 –
8/01/2021 1.1153 1.1097 –
7/01/2021 1.1209 1.1153 –
6/01/2021 1.1362 1.1305 –
5/01/2021 1.1492 1.1434 –
4/01/2021 1.1531 1.1474 –
31/12/2020 1.1451 1.1394 –
30/12/2020 1.1640 1.1582 –
29/12/2020 1.1562 1.1504 –
24/12/2020 1.1435 1.1378 –
23/12/2020 1.1359 1.1302 –
22/12/2020 1.1230 1.1174 –
21/12/2020 1.1259 1.1203 –
18/12/2020 1.1330 1.1274 –
17/12/2020 1.1449 1.1392 –
16/12/2020 1.1348 1.1292 –
15/12/2020 1.1329 1.1272 –
14/12/2020 1.1296 1.1240 –
11/12/2020 1.1189 1.1133 –
10/12/2020 1.1196 1.1140 –
9/12/2020 1.1167 1.1112 –
8/12/2020 1.1211 1.1155 –
7/12/2020 1.1247 1.1190 –
4/12/2020 1.1280 1.1223 –
3/12/2020 1.1207 1.1151 –
2/12/2020 1.1186 1.1130 –
1/12/2020 1.1272 1.1216 –
30/11/2020 1.1162 1.1107 –
27/11/2020 1.1150 1.1094 –
26/11/2020 1.1090 1.1035 –
25/11/2020 1.1140 1.1084 –
24/11/2020 1.1100 1.1045 –
23/11/2020 1.1042 1.0987 –
20/11/2020 1.1071 1.1016 –
19/11/2020 1.1120 1.1065 –
18/11/2020 1.1128 1.1073 –
17/11/2020 1.1148 1.1092 –
16/11/2020 1.1352 1.1296 –
13/11/2020 1.1231 1.1175 –
12/11/2020 1.1301 1.1245 –
11/11/2020 1.1240 1.1184 –
10/11/2020 1.0927 1.0873 –
9/11/2020 1.1295 1.1239 –
6/11/2020 1.1208 1.1152 –
5/11/2020 1.1190 1.1134 –
4/11/2020 1.0952 1.0897 –
3/11/2020 1.0812 1.0758 –
2/11/2020 1.0667 1.0613 –
30/10/2020 1.0660 1.0606 –
29/10/2020 1.0633 1.0580 –
28/10/2020 1.0751 1.0697 –
27/10/2020 1.0724 1.0670 –
26/10/2020 1.0888 1.0833 –
23/10/2020 1.0853 1.0799 –
22/10/2020 1.0869 1.0815 –
21/10/2020 1.0894 1.0840 –
20/10/2020 1.0977 1.0922 –
19/10/2020 1.0961 1.0906 –
16/10/2020 1.0988 1.0933 –
15/10/2020 1.1085 1.1030 –
14/10/2020 1.1038 1.0983 –
13/10/2020 1.1017 1.0962 –
12/10/2020 1.0894 1.0840 –
9/10/2020 1.0917 1.0863 –
8/10/2020 1.0932 1.0877 –
7/10/2020 1.0941 1.0887 –
6/10/2020 1.0813 1.0759 –
2/10/2020 1.0657 1.0604 –
1/10/2020 1.0713 1.0660 –
30/09/2020 1.0628 1.0575 –
29/09/2020 1.0743 1.0689 –
28/09/2020 1.0749 1.0696 –
25/09/2020 1.0614 1.0561 –
24/09/2020 1.0578 1.0525 –
23/09/2020 1.0618 1.0565 –
22/09/2020 1.0472 1.0419 –
21/09/2020 1.0515 1.0463 –
18/09/2020 1.0590 1.0537 –
17/09/2020 1.0652 1.0599 –
16/09/2020 1.0667 1.0614 –
15/09/2020 1.0481 1.0429 –
14/09/2020 1.0361 1.0309 –
11/09/2020 1.0356 1.0304 –
10/09/2020 1.0348 1.0297 –
9/09/2020 1.0318 1.0266 –
8/09/2020 1.0439 1.0387 –
7/09/2020 1.0392 1.0341 –
4/09/2020 1.0408 1.0357 –
3/09/2020 1.0598 1.0545 –
2/09/2020 1.0485 1.0433 –
1/09/2020 1.0334 1.0283 –
31/08/2020 1.0526 1.0473 –
28/08/2020 1.0414 1.0362 –
27/08/2020 1.0363 1.0311 –
26/08/2020 1.0357 1.0306 –
25/08/2020 1.0335 1.0283 –
24/08/2020 1.0350 1.0298 –
21/08/2020 1.0366 1.0314 –
20/08/2020 1.0220 1.0169 –
19/08/2020 1.0261 1.0209 –
18/08/2020 1.0277 1.0226 –
17/08/2020 1.0222 1.0171 –
14/08/2020 1.0238 1.0187 –
13/08/2020 1.0179 1.0128 –
12/08/2020 1.0138 1.0088 –
11/08/2020 1.0167 1.0117 –
10/08/2020 1.0056 1.0006 –
7/08/2020 0.9996 0.9946 –
6/08/2020 0.9953 0.9903 –
5/08/2020 0.9994 0.9945 –
4/08/2020 0.9969 0.9919 –
31/07/2020 0.9907 0.9858 –
30/07/2020 0.9943 0.9894 –
29/07/2020 0.9867 0.9818 –
28/07/2020 0.9882 0.9833 –
27/07/2020 0.9908 0.9858 –
24/07/2020 0.9887 0.9838 –
23/07/2020 0.9938 0.9888 –
22/07/2020 0.9824 0.9775 –
21/07/2020 0.9873 0.9823 –
20/07/2020 0.9718 0.9669 –
17/07/2020 0.9727 0.9678 –
16/07/2020 0.9703 0.9655 –
15/07/2020 0.9765 0.9717 –
14/07/2020 0.9622 0.9574 –
13/07/2020 0.9716 0.9668 –
10/07/2020 0.9641 0.9593 –
9/07/2020 0.9646 0.9598 –
8/07/2020 0.9673 0.9624 –
7/07/2020 0.9865 0.9816 –
6/07/2020 0.9960 0.9911 –
3/07/2020 1.0022 0.9972 –
2/07/2020 1.0033 0.9983 –
1/07/2020 0.9803 0.9754 –
30/06/2020 0.9839 0.9790 0.0123
29/06/2020 0.9839 0.9790 –
26/06/2020 0.9947 0.9898 –
25/06/2020 0.9852 0.9803 –
24/06/2020 1.0116 1.0065 –
23/06/2020 1.0024 0.9974 –
22/06/2020 0.9946 0.9896 –
19/06/2020 1.0100 1.0050 –
18/06/2020 0.9930 0.9880 –
17/06/2020 0.9944 0.9894 –
16/06/2020 0.9771 0.9722 –
15/06/2020 0.9607 0.9559 –
12/06/2020 0.9710 0.9662 –
11/06/2020 0.9867 0.9818 –
10/06/2020 1.0077 1.0027 –
9/06/2020 1.0120 1.0070 –
5/06/2020 0.9903 0.9854 –
4/06/2020 0.9943 0.9893 –
3/06/2020 0.9835 0.9786 –
2/06/2020 0.9725 0.9676 –
1/06/2020 0.9748 0.9699 –
29/05/2020 0.9817 0.9768 –
28/05/2020 0.9807 0.9759 –
27/05/2020 0.9815 0.9766 –
26/05/2020 0.9743 0.9695 –
25/05/2020 0.9441 0.9394 –
22/05/2020 0.9263 0.9217 –
21/05/2020 0.9271 0.9224 –
20/05/2020 0.9266 0.9220 –
19/05/2020 0.9230 0.9184 –
18/05/2020 0.9020 0.8975 –
15/05/2020 0.8966 0.8921 –
14/05/2020 0.8908 0.8863 –
13/05/2020 0.8970 0.8925 –
12/05/2020 0.9149 0.9104 –
11/05/2020 0.9252 0.9206 –
8/05/2020 0.9101 0.9056 –
7/05/2020 0.9022 0.8977 –
6/05/2020 0.9003 0.8958 –
5/05/2020 0.9032 0.8987 –
4/05/2020 0.8905 0.8861 –
1/05/2020 0.8899 0.8855 –
30/04/2020 0.9181 0.9135 –
29/04/2020 0.8917 0.8873 –
28/04/2020 0.8984 0.8939 –
27/04/2020 0.8915 0.8871 –
24/04/2020 0.8708 0.8665 –
23/04/2020 0.8714 0.8670 –
22/04/2020 0.8672 0.8629 –
21/04/2020 0.8655 0.8612 –
20/04/2020 0.8918 0.8873 –
17/04/2020 0.9091 0.9046 –
16/04/2020 0.8800 0.8756 –
15/04/2020 0.8853 0.8809 –
14/04/2020 0.8796 0.8752 –
9/04/2020 0.8984 0.8939 –
8/04/2020 0.8693 0.8650 –
7/04/2020 0.8642 0.8598 –
6/04/2020 0.8554 0.8511 –
3/04/2020 0.8263 0.8222 –
2/04/2020 0.8430 0.8388 –
1/04/2020 0.8633 0.8590 –
31/03/2020 0.8441 0.8399 –
30/03/2020 0.8178 0.8137 –
27/03/2020 0.7984 0.7945 –
26/03/2020 0.8330 0.8289 –
25/03/2020 0.7970 0.7930 –
24/03/2020 0.7634 0.7596 –
23/03/2020 0.7255 0.7219 –
20/03/2020 0.8142 0.8102 –
19/03/2020 0.7762 0.7724 –
18/03/2020 0.8573 0.8530 –
17/03/2020 0.9078 0.9033 –
16/03/2020 0.9173 0.9127 –
13/03/2020 0.9787 0.9738 –
12/03/2020 0.9951 0.9902 –
11/03/2020 1.0000 1.0000 –

Swipe horizontally to see all columns

Download Unit Prices
Where a distribution is shown, the price for that date is prior to the payment of the distribution. The following day's price will exclude that distribution payment amount.
HD-PENPSS-Class A-30/06/2021

PORTFOLIO

  • TOP HOLDINGS (alphabetically)
  • Portfolio breakdown
Centuria Capital
Australia
Asset Management & Custody Banks
Charter Hall Social Infrastructure REIT
Australia
Specialized REITs
Dexus
Australia
Office REITs
Goodman Group
Australia
Industrial REITs
Mirvac Group Property Trust
Australia
Diversified REITs
HD-PENPSS-Class A-30/06/2021

THE TEAM

Amy Pham

Amy Pham

Portfolio Manager & Investment Analyst

Read full profile >
Jade Ong

Jade Ong

Investment Specialist

Read full profile >

Fund Facts

MINIMUM INVESTMENT

$10,000

RECOMMENDED TIMEFRAME

3 or more years

INCEPTION DATE

11 March 2020

MANAGEMENT FEE*

0.70% per annum

PERFORMANCE FEE*

Performance fee of 15% (including GST net of RITC) of any return of the Class greater than the return of the Index after deduction of the management fee and adjusted for applications, redemptions and distributions to investors.

BUY/SELL SPREAD:

0.25%

ENTRY/ EXIT FEES:

Nil

DISTRIBUTION FREQUENCY:

Quarterly

TYPICAL NUMBER OF STOCKS:

Typically less than 20

APIR CODE:

PCL8246AU

*Fees are stated inclusive of GST and net of RITC. For more information, refer to the Fund’s product disclosure statement available under the Reports & Resources section.

PLATFORM AVAILABILITY

  • Mason Stevens

RATINGS

RATINGS

SQM Research is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. Information contained in this document attributable to SQM Research must not be used to make an investment decision. The SQM Research rating is valid at the time the report was issued (November 2020), however it may change at any time. While the information contained in the rating is believed to be reliable, its completeness and accuracy is not guaranteed. The SQM Research star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. Only licensed financial advisers may use the SQM Research star rating system in determining whether an investment is appropriate to a person’s particular circumstances or needs. You should read the product disclosure statement and consult a licensed financial adviser before making an investment decision in relation to this investment product. SQM Research receives a fee from the Fund Manager for the research and rating of the managed investment scheme.

REPORTS AND RESOURCES

  • Monthly Reports
  • ESG
  • PDS
INVEST NOW

NEWS AND INSIGHTS

High Conviction Property Securities Fund

4 Factors influencing the future of the Real Estate sector

The last three months have seen a dramatic rally in the AREIT sector as Australian 10-year bond yields came down...

July, 2021
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High Conviction Property Securities Fund

The year ahead for REITs

Fund Manager Amy Pham provides a portfolio update and insights from the reporting season. CPD points applicable for Australian Financial...

May, 2021
Read More
High Conviction Property Securities Fund

The housing boom – and how to get exposure via REITs

One of the key focuses during the month was the strength of the residential market.  What a difference six months...

April, 2021
Read More