Australian Unity Investments (AUI) Retail Property Trust has been awarded the Ernst & Young Joe Curlewis Property Trust Industry
Award, which recognises innovation, financial performance and professionalism in the property trust industry.
The award was presented during the Australian Property Institute (API) Excellence in Property Awards, held by the Victorian division.
In its announcement, the API said that: “The Retail Property Trust has had an impressive performance over the year. With the total
return of 64.6 per cent, the Trust outperformed its benchmark (the Mercer Unlisted Funds Index) by an astounding 45 per cent.
“Unit holders in this unlisted Trust have benefited from a well executed redevelopment and expansion of the Trust’s asset, the Waurn
Ponds Shopping Centre in Geelong, Victoria, which was completed ahead of schedule with minimal rental relief. The Trust has been
recognised for its professional focus on property fundamentals to deliver real value to investors,” it said.
Mr Peter Lambden, portfolio manager at AUI, said that the award is recognition of AUI’s approach of always seeking the best outcome
for its investors.
“One of the key innovations in the management of the Retail Property Trust was the way in which the fund was formed. It was
originally a very successful property syndicate, owning the Waurn Ponds Shopping Centre, which reached the end of its six year term
in 2005. Rather than sell the property, we invited investors to vote on a proposal to convert the syndicate into an open-ended fund,
which was adopted. We believe this is the first time in Australia such a conversion took place.
“The new structure has offered greater flexibility in raising capital to finance development of the property, as well as the potential for
greater diversification and providing greater liquidity.
For the five years ending August 31 2008, the Trust has returned 46.03% - a combination of 40.71% growth return and 5.32%
distribution return*.
Australian Unity Investments is the funds management arm of financial services, health and retirement living services provider
Australian Unity. It has over $6.4 billion in funds under management. Its investment approach is to use its established in-house
expertise in property and mortgages while also forming joint ventures and strategic alliances with other organisations with specialist
expertise.
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For further information please contact:
Peter Lambden
Phone: 03 8682 4540
Email: plambden@australianunity.com.au
*This information is intended only to provide a broad summary of the AUI Retail Property Trust. Investment decisions should not be
made upon the basis of its past performance since future returns will vary. Please refer to the Product Disclosure Statement
available on www.australianunityinvestments.com.au.