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

PERFORMANCE

  • CHART
  • TABLE
  • UNIT PRICES

Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. 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 29 Jan 2021
1 MTHSINCE INCEPTION
High Conviction Property Securities Fund-4.4%10.6%
S&P/ASX 300 A-REIT (AUD) TR Index-4.1%-9.1%

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Net performance figures are shown after all fees and expenses, and assume reinvestment of distributions. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.

Inception 11 March 2020

DATEAPPLICATIONREDEMPTIONDISTRIBUTIONS
25/02/20211.06171.0564
24/02/20211.06141.0561
23/02/20211.06341.0581
22/02/20211.05111.0459
19/02/20211.05401.0488
18/02/20211.05561.0503
17/02/20211.06781.0624
16/02/20211.09341.0880
15/02/20211.09981.0943
12/02/20211.10591.1004
11/02/20211.10091.0954
10/02/20211.09961.0941
9/02/20211.08771.0823
8/02/20211.10791.1024
5/02/20211.11311.1075
4/02/20211.10731.1018
3/02/20211.12591.1203
2/02/20211.10321.0977
1/02/20211.09861.0931
29/01/20211.09521.0897
28/01/20211.08951.0841
27/01/20211.10061.0951
25/01/20211.10541.0998
22/01/20211.10451.0990
21/01/20211.10481.0993
20/01/20211.09601.0905
19/01/20211.09341.0879
18/01/20211.08451.0791
15/01/20211.08601.0806
14/01/20211.09161.0862
13/01/20211.08871.0832
12/01/20211.09471.0892
11/01/20211.10141.0959
8/01/20211.11531.1097
7/01/20211.12091.1153
6/01/20211.13621.1305
5/01/20211.14921.1434
4/01/20211.15311.1474
31/12/20201.14511.1394
30/12/20201.16401.1582
29/12/20201.15621.1504
24/12/20201.14351.1378
23/12/20201.13591.1302
22/12/20201.12301.1174
18/12/20201.13301.1274
17/12/20201.14491.1392
16/12/20201.13481.1292
15/12/20201.13291.1272
14/12/20201.12961.1240
11/12/20201.11891.1133
10/12/20201.11961.1140
9/12/20201.11671.1112
8/12/20201.12111.1155
7/12/20201.12471.1190
4/12/20201.12801.1223
3/12/20201.12071.1151
2/12/20201.11861.1130
1/12/20201.12721.1216
30/11/20201.11621.1107
27/11/20201.11501.1094
26/11/20201.10901.1035
25/11/20201.11401.1084
24/11/20201.11001.1045
23/11/20201.10421.0987
20/11/20201.10711.1016
19/11/20201.11201.1065
18/11/20201.11281.1073
17/11/20201.11481.1092
16/11/20201.13521.1296
13/11/20201.12311.1175
12/11/20201.13011.1245
11/11/20201.12401.1184
10/11/20201.09271.0873
9/11/20201.12951.1239
6/11/20201.12081.1152
5/11/20201.11901.1134
4/11/20201.09521.0897
3/11/20201.08121.0758
2/11/20201.06671.0613
30/10/20201.06601.0606
29/10/20201.06331.0580
28/10/20201.07511.0697
27/10/20201.07241.0670
26/10/20201.08881.0833
23/10/20201.08531.0799
22/10/20201.08691.0815
21/10/20201.08941.0840
20/10/20201.09771.0922
19/10/20201.09611.0906
16/10/20201.09881.0933
15/10/20201.10851.1030
14/10/20201.10381.0983
13/10/20201.10171.0962
12/10/20201.08941.0840
9/10/20201.09171.0863
8/10/20201.09321.0877
7/10/20201.09411.0887
6/10/20201.08131.0759
2/10/20201.06571.0604
1/10/20201.07131.0660
30/09/20201.06281.0575
29/09/20201.07431.0689
28/09/20201.07491.0696
25/09/20201.06141.0561
24/09/20201.05781.0525
23/09/20201.06181.0565
22/09/20201.04721.0419
21/09/20201.05151.0463
18/09/20201.05901.0537
17/09/20201.06521.0599
16/09/20201.06671.0614
15/09/20201.04811.0429
14/09/20201.03611.0309
11/09/20201.03561.0304
10/09/20201.03481.0297
9/09/20201.03181.0266
8/09/20201.04391.0387
7/09/20201.03921.0341
4/09/20201.04081.0357
3/09/20201.05981.0545
2/09/20201.04851.0433
1/09/20201.03341.0283
31/08/20201.05261.0473
28/08/20201.04141.0362
27/08/20201.03631.0311
26/08/20201.03571.0306
25/08/20201.03351.0283
24/08/20201.03501.0298
21/08/20201.03661.0314
20/08/20201.02201.0169
19/08/20201.02611.0209
18/08/20201.02771.0226
17/08/20201.02221.0171
14/08/20201.02381.0187
13/08/20201.01791.0128
12/08/20201.01381.0088
11/08/20201.01671.0117
10/08/20201.00561.0006
7/08/20200.99960.9946
6/08/20200.99530.9903
5/08/20200.99940.9945
4/08/20200.99690.9919
31/07/20200.99070.9858
30/07/20200.99430.9894
29/07/20200.98670.9818
28/07/20200.98820.9833
27/07/20200.99080.9858
24/07/20200.98870.9838
23/07/20200.99380.9888
22/07/20200.98240.9775
21/07/20200.98730.9823
20/07/20200.97180.9669
17/07/20200.97270.9678
16/07/20200.97030.9655
15/07/20200.97650.9717
14/07/20200.96220.9574
13/07/20200.97160.9668
10/07/20200.96410.9593
9/07/20200.96460.9598
8/07/20200.96730.9624
7/07/20200.98650.9816
6/07/20200.99600.9911
3/07/20201.00220.9972
2/07/20201.00330.9983
1/07/20200.98030.9754
30/06/20200.98390.97900.0123
29/06/20200.98390.9790
26/06/20200.99470.9898
25/06/20200.98520.9803
24/06/20201.01161.0065
23/06/20201.00240.9974
22/06/20200.99460.9896
19/06/20201.01001.0050
18/06/20200.99300.9880
17/06/20200.99440.9894
16/06/20200.97710.9722
15/06/20200.96070.9559
12/06/20200.97100.9662
11/06/20200.98670.9818
10/06/20201.00771.0027
9/06/20201.01201.0070
5/06/20200.99030.9854
4/06/20200.99430.9893
3/06/20200.98350.9786
2/06/20200.97250.9676
1/06/20200.97480.9699
29/05/20200.98170.9768
28/05/20200.98070.9759
27/05/20200.98150.9766
26/05/20200.97430.9695
25/05/20200.94410.9394
22/05/20200.92630.9217
21/05/20200.92710.9224
20/05/20200.92660.9220
19/05/20200.92300.9184
18/05/20200.90200.8975
15/05/20200.89660.8921
14/05/20200.89080.8863
13/05/20200.89700.8925
12/05/20200.91490.9104
11/05/20200.92520.9206
8/05/20200.91010.9056
7/05/20200.90220.8977
6/05/20200.90030.8958
5/05/20200.90320.8987
4/05/20200.89050.8861
1/05/20200.88990.8855
30/04/20200.91810.9135
29/04/20200.89170.8873
28/04/20200.89840.8939
27/04/20200.89150.8871
24/04/20200.87080.8665
23/04/20200.87140.8670
22/04/20200.86720.8629
21/04/20200.86550.8612
20/04/20200.89180.8873
17/04/20200.90910.9046
16/04/20200.88000.8756
15/04/20200.88530.8809
14/04/20200.87960.8752
9/04/20200.89840.8939
8/04/20200.86930.8650
7/04/20200.86420.8598
6/04/20200.85540.8511
3/04/20200.82630.8222
2/04/20200.84300.8388
1/04/20200.86330.8590
31/03/20200.84410.8399
30/03/20200.81780.8137
27/03/20200.79840.7945
26/03/20200.83300.8289
25/03/20200.79700.7930
24/03/20200.76340.7596
23/03/20200.72550.7219
20/03/20200.81420.8102
19/03/20200.77620.7724
18/03/20200.85730.8530
17/03/20200.90780.9033
16/03/20200.91730.9127
13/03/20200.97870.9738
12/03/20200.99510.9902
11/03/20201.00001.0000

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PORTFOLIO

  • TOP HOLDINGS (alphabetically)
  • Sector breakdown
Centuria Capital
Australia
Asset Management & Custody Banks
Charter Hall Group
Australia
Diversified REITs
Dexus
Australia
Office REITs
Goodman Group
Australia
Industrial REITs
Mirvac Group Property Trust
Australia
Diversified REITs

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.

RATINGS