Perpetual Corporate Trust appointed Responsible Entity of ASX-listed Qualitas Real Estate Income Fund


Perpetual Corporate Trust

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Real estate investment manager Qualitas has appointed The Trust Company (RE Services) as the Responsible Entity and Perpetual Corporate Trust Limited as Custodian for the Trust, due to its well-established compliance and governance structure and its experience in the listed space.

Qualitas’ Group Managing Director, Andrew Schwartz, said “We have worked with Perpetual since 2014 and they understand our business and our funds well.”

Perpetual Corporate Trust General Manager – Managed Fund Services, Vicki Riggio said, “Perpetual Corporate Trust is excited to enter into a new deal with Qualitas. We are pleased to be able to expand our remit while continuing to grow our relationship with a longstanding client.

“We’ve seen continued investor appetite for listed funds and have sought to align offerings to address this demand, particularly in the credit space. This deal marks the third ASX-listed investment trust we have launched in the last twelve months and it will allow us to offer retail investors the exposure to commercial real estate, which historically has only been accessible to wholesale investors.”

Qualitas announced on Thursday 15 November 2018 that the Qualitas Real Estate Income Fund (QRI or Trust) had raised more than $230 million. The Trust aims to provide investors with a target return of 8.0% p.a. (net of fees), with cash distributions paid monthly, which is generated by commercial real estate loans.

QRI received strong support from cornerstone investors and, in particular, the wealth advisory network. Qualitas said investors have been attracted to the proposed income and portfolio diversification benefits. 

Mr Schwartz, said, “The feedback from investors is they are looking to generate income beyond traditional, dividend-focused equities or lower-yielding bonds and term deposits. QRI was established with the aim to provide diversification through exposure via an alternative asset class, being the commercial real estate finance market.

“The trust will invest in a portfolio of loans, secured by predominantly first, and on occasion second, real property mortgages as the primary source of security. In doing so, it aims to provide predictable income, with a focus on capital preservation. This is especially sought-after by investors such as self-funded retirees and explains the strong interest we received.”

Funds that invest only in commercial real estate loans are an established listed investment product on stock exchanges internationally, but not available in Australia until now.

“The Trust offers exposure to the commercial real estate finance market in a listed format, which has been largely inaccessible to direct and SMSF investors to date. While markets overseas are familiar with this type of product, it is quite a differentiated offering on the ASX,” Mr Schwartz said.

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This article has been prepared by The Trust Company (RE Services) Limited ABN 45 003 278 831 AFSL 235150 (Perpetual) and contains general information only. Any views expressed in this presentation do not constitute a recommendation to act. It is not intended to provide you with financial advice or take into account your objectives, financial situations or needs. Perpetual Corporate Trust financial services are provided by a number of entities, including The Trust Company (RE Services) Limited ABN 45 003 278 831 AFSL 235150 and Perpetual Corporate Trust Limited ABN 99 000 341 533 AFSL 392673. The Trust Company (RE Services) Limited ABN 45 003 278 831 AFSL 235150 (Perpetual) is the responsible entity of, and Perpetual Corporate Trust Limited ABN 99 000 341 533 AFSL 392673 is the custodian of, the Qualitas Real Estate Income Fund ARSN 627 917 971 (Trust). Units in the Trust are issued pursuant to a product disclosure statement (PDS) dated 8 October 2018 as amended by the supplementary product disclosure statement dated 9 November 2018 (SPDS). Before making an investment decision, you should consider the PDS and SPDS of the Trust (and any ASX Announcements) and assess whether the Trust is appropriate given your objectives, financial situation or needs. If you require advice that takes into account your personal circumstances, you should consult a licensed or authorised financial adviser. Neither Perpetual (nor any company in the Perpetual Group, being Perpetual Limited ABN 86 000 431 827 and its subsidiaries) guarantee the repayment of capital or any particular rate of return from the Trust. Neither Perpetual (nor any company in the Perpetual Group) gives any representation or warranty as to the reliability, completeness or accuracy of the information contained in this article.