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.
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