Adviser demand drives extra availability of Cromwell fund
The $350 million Cromwell Property Fund (CPF) has been added to a number of investment platforms and products following the activation of a limited monthly withdrawal facility.
Macquarie Super Manager, Macquarie Pension Manager and Macquarie Property Access now offer CPF, which is also now available through the Oasis-managed Strategy Retirement Fund and Strategy Portfolio Services.
The fund features a diversified $350 million portfolio of six commercial property assets, with 78 per cent of rental income sourced from government and blue chip tenants.
The withdrawal facility allows investors wanting to exit the fund to share in capital growth achieved during the time they held units.
Crowell Group associate director, institutional markets, Michael Blake said CPF was added to the new distribution channels due to financial adviser and dealer group demand.
“Demand is also being driven by increased inflows from self-managed super funds in the lead up to June 30,” he added.
“The CPF has provided attractive returns without the same level of risk and volatility inherent in other high yielding products.
“And with the activation of the withdrawal facility, the fund now has a liquidity mechanism to satisfy a wider range of investors.”
Recommended for you
David Sipina has been sentenced to three years under an intensive correction order for his role in the unlicensed Courtenay House financial services.
As AFSLs endeavour to meet their breach reporting obligations, a legal expert has emphasised why robust documentation will prove fruitful, particularly in the face of potential regulatory investigations.
Betashares has named the top Australian suburbs with the highest spare cash flow, shining a light on where financial advisers could eye out potential clients.
A relevant provider has received a written direction from the Financial Services and Credit Panel after a superannuation rollover resulted in tax bill of over $200,000 for a client.
