Cromwell’s fund reopens to new investors
Cromwell Funds Management has announced that its Phoenix Property Securities Fund has been reopened to new investors with an additional capacity of $30 million.
The company said that the benchmark-unaware fund investing in Australian Securities Exchange (ASX)-listed property securities was last open to new investors in February 2015.
Cromwell’s head of retail funds management, Hamish Wehl, added: “This is a unique opportunity to access one of the top-performing property securities funds in Australia.
“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 AREIT [Australian real estate investment trust] Accumulation Index.”
According to the company, the fund had returned 9.1 per cent per annum as at 31 August 2017 since inception in 2008 after fees and costs.
AUTHOR
Oksana Patron
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