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Cromwell Phoenix Property Securities Fund

Fund Category Property
Minimum Initial Investment $20,000
Expected Close Date Closed to New Investors
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Award winning investment that provides diversified exposure to listed property securities

5 February 2015: Cromwell Property Group has announced the Fund has closed to new investors because it has reached its capacity constraint and Cromwell believes that by closing the fund will put the investment manager, Phoenmix Portfolios, in the best position to outperform the Fund's Benchmark going forward. Existing investors can apply for additional units. 

The Cromwell Phoenix Property Securities Fund (“the Fund”) is an unlisted fund that gives investors exposure to a diversified portfolio of predominantly ASX listed property securities (A-REITs) selected by its investment manager Phoenix Portfolio Pty Ltd ("Phoenix"). It aims to provide a total return (after management fees) in excess of the S&P/ASX 300 A-REIT Accumulation Index while delivering lower total risk (as measured by volatility of returns) over the medium to long term.

As at 30 September 2013:

Cromwell Phoenix Property Securities Fund



  1 yr 2 yrs p.a. 3 yrs p.a. 5 yrs p.a. Inception* p.a.
Fund performance (after fees and costs) 21.6% 29.2% 21.4% 10.8% 5.1%
Benchmark (S&P ASX 300 A-REIT) 16.4% 22.5% 12.0% 0.7% -2.7%
Excess Returns 5.2% 6.7% 9.4% 10.1% 7.8%


* The inception date is 16 April 2008. The Fund changed its investment mandate with effect from 1 July 2009. These figures show the performance of the Fund under the old mandate and under the new mandate from 1 July 2009. 

Benchmark unaware portfolio

The Fund is not constrained by index compostion and will hold securities based on investment conviction. Whilst the index is currently comprised of more than 40% one security (Westfield Group), the Fund may only invest 20% in any one security, reducing stock specific risk and increasing the opportunity for active returns.

Investment Expertise of Phoenix

The Fund draws on the proven investment management experience of Phoenix in an exclusive arrangement, providing retail investors with access to Phoenix's established property securities research and investment skills.

Diversified portfolio across large investment universe

The Fund provides access to a broad range of ASX-listed property securities giving exposure to, but not limited to, the retail, industrial and commercial sectors. The Fund can tap into an investment universe of over 50 securities extensively researched including preference shares and some infrastructure. It is expected that at least 20 securities will be held at any time.



This is a summary only; please refer to the product disclosure statement for full details
Type of Fund Listed Property / A-REITs
Suggested investment time frame 3-5 years
Distribution1 Quarterly
Management costs 0.97% per annum
Investment Manager Phoenix Portfolios Pty Ltd
Responsible Entity Cromwell Funds Management Limited


Cromwell Phoenix Property Securities Fund - Money Magazine Winner   Cromwell Phoenix Property Securities Fund - Lonsec rating


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There are no commissions payable to 2020 DIRECTINVEST on investments in this Fund.

Disclaimers and other important information

The Lonsec rating (assigned March 2013) is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421445. The rating is limited to "General Advice" and based solely on consideration of the investment merits of the financial product(s). It is not a recommendation to purchase, sell or hold the relevant product(s), and you should seek independent financial advice before in this product(s). The rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the fund manager for researching the product(s) using comprehensive and objective criteria. For further information regarding Lonsec's ratings methodology, please refer to

5. Figures are as at 30 September 2013. Positions held by the Fund are subject to continual change.


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