Cromwell fund added to Macquarie Wrap
The Cromwell Phoenix Core Listed Property Fund has been added to Macquarie Wrap.
The fund has been added to the Macquarie Investment Manager as well as Macquarie Super and Pension Manager investment menus, according to a statement by Cromwell.
Cromwell funds management director Michael Blake said he believes the approval of the fund for Macquarie Wrap indicates increased demand from financial advisers and dealer groups.
"The fund is proving extremely popular with investors, and is now the only way for investors to get access to the highly successful, award-winning investment management team at Phoenix Portfolio's listed property expertise," he said.
"Phoenix has been one of the star performers in the Australian listed property funds management industry over recent years and the response to the fund since it was launched in March reflects their reputation."
The fund's investment objectives over three-year periods include providing investors with a total return in excess of the benchmark, lower volatility of total returns than the benchmark, quarterly distributions that will grow over time and the opportunity for capital growth over time, the statement said.
The fund will primarily have a large and medium cap focus investing in A-REITs, Cromwell said.
"To broaden the universe of investment opportunities, the Fund may also invest in a selected range of other assets, including listed property related securities such as infrastructure, property developers, property fund managers, international listed property securities, cash and fixed interest," the statement said.
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