Cromwell Direct Property Fund

A quality portfolio of 103 commercial property assets with a long, 5.1-year weighted average lease expiry (WALE)4 and 61.8% of income sourced from Government and listed tenants2 with a high level of predictability and comfort.1

Product Disclosure Statement

ASIC Benchmarksand Disclosure Principles

Target Market Determination

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Tenant type by income2

  • Government - 41.0%
  • Listed Company - 20.8%
  • Other - 38.2%

Key benefits

5.4%

current income yield5

Monthly withdrawals6

5.1-year

WALE4

22 years'

property management experience

Key benefits

5.4%

current income yield5

Monthly withdrawals6

5.1-year

WALE4

22 years'

property management experience

The Fund pays a regular, reliable income of 7.25 cents per unit per annum, paid monthly, with the potential for capital growth.7

Cash reserves made available on a monthly basis for withdrawals, with a full periodic withdrawal opportunity every five years.6

Providing a tax-advantaged income stream,7 sourced from a portfolio of 103 commercial properties.

Learn more about the Fund

Jonathan Bredin

Jonathan has 20 years’ experience in equities markets and investing. He is responsible for maintaining relationships with Cromwell’s direct retail investors.

Learn more about the Fund

Jonathan Bredin

Jonathan has 20 years’ experience in equities markets and investing. He is responsible for maintaining relationships with Cromwell’s direct retail investors.

Disclaimer and Footnotes

1 Capital growth and income distributions are not guaranteed and are subject to the assumptions and risks contained in the PDS. Past performance is not indicative of future performance.

2 Positions in the Fund are subject to change.

3 As at 31 March 2022 adjusted for the inclusion of 95 Grenfell Street, Adelaide on 1 April 2022.

4 Calculated on a “look-through” gross passing income basis. As at 31 March 2022 adjusted for the inclusion of 95 Grenfell Street, Adelaide on 1 April 2022.

5 Based on current distributions of 7.25 cents per unit p.a. and a current unit price of $1.3441 as at 31 March 2022.

6 Withdrawals are limited, cannot be guaranteed and are subject to the risks and assumptions set out in the PDS. The amount available to meet withdrawal requests in any month will be the greater of an amount equal to 0.5% of the Fund’s net asset value and (if CFM believes it appropriate given the Fund’s future cash requirements) the amount by which the Fund and its sub-trust’s cash exceeds 6% of its net asset value.

7 Distribution rate as at 31 March 2022. Capital growth, distributions and tax consequences cannot be guaranteed.

Units are issued by the Fund at a unit price determined in accordance with the Responsible Entity’s Unit Pricing Policy. Per the Australian Securities and Investments Commission (ASIC) and the Australian Prudential Regulation Authority’s (APRA’s) Unit Pricing: Guide to Good Practice, investors will receive compensation for any material unit pricing errors. In accordance with these guidelines the Fund does not pay exited members compensation for material unit pricing errors where the amount of any compensation payable is less than $20.

Cromwell Funds Management Limited ABN 63 114 782 777 AFSL 333214 (CFM) has prepared this notice and is the responsible entity of, and the issuer of units in, the Cromwell Direct Property Fund ARSN 165 011 905 (Fund). In making an investment decision in relation to the Fund, it is important that you read the product disclosure statement dated 17 November 2020 (PDS). Applications for units in the Fund can only be made on the application form. A Target Market Determination (TMD) is available. The PDS, TMD and application form are issued by CFM and are available from www.cromwell.com.au/dpf or by calling Cromwell’s Investor Services team on 1300 268 078. This content has been prepared without taking account of your objectives, financial situation or needs. In deciding whether to acquire or continue to hold an investment you should consider PDS, available from Cromwell and assess, with (or without) your financial adviser, whether products fit your objectives, financial situation or needs. CFM and its related bodies corporate, and their associates, do not receive any remuneration or benefits for the general advice given in this page. If you acquire units in the Fund, CFM and certain related parties may receive fees from the Fund and these fees are disclosed in the PDS.

Please note: Any investment, including an investment in the Fund, is subject to risk. If a risk eventuates, it may result in reduced distributions and/or a loss of some or all of the capital value of your investment. See the PDS for examples of key risks. Past performance is not indicative of future performance. Forward-looking statements in this notice are provided as a general guide only. Capital growth, distributions and tax consequences cannot be guaranteed. Forward-looking statements and the performance of the Fund are subject to the risks and assumptions set out in the PDS.