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

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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.

RATINGS

NEWS AND INSIGHTS

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...

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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...

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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...

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