Australian Unity has announced that its Diversified Property Fund is now available on Netwealth’s Super and Investment Wealth Accelerator Plus platforms.
The fund, which owns eight properties across the office, retail and industrial sectors, offers strategy placed with a focus on delivering consistent income distributions.
In 2010, Australian Unity took over the fund’s management and it currently forecasts distribution range for the fund for the year to 31 March, 2019 of 6.5 to 6.9 per cent.
According to FE Analytics, the fund’s performance for the one year to 31 March, was 16.22 per cent.
The occupancy of the fund’s portfolio was 98.9 per cent by income and its weighted average lease expiry was 3.82 years by base rental income at 31 March.
Fund manager Nikki Panagopoulos, said that the fund, which owns properties in new South Wales, Queensland, Victoria and Western Australia, had a number of new property development projects underway.
“These developments are targeted to improve tenant amenities, increase lettable area and build on the quality of the existing property portfolio which is designed to improve investor returns,” he said.
“For example, in April approval for the next stage of a significant development at Busselton Central Shopping Centre in Western Australia, was cemented which will see the addition of a new Coles on a 15 year lease, as well as speciality retailers.”
The chart below from FE Analytics shows the performance of the fund relative to it’s sector.