Australian Unity Investments’ (AUI) Healthcare Property Trust (HPT) has been awarded the Ernst & Young Joe Curlewis Property Trust Industry Award, which recognises financial performance and innovation in the property industry.
The award was presented by the Australian Property Institute (API) Victoria division at its Excellence in Property Awards in Melbourne last week. This is the second year in a row that AUI has received the award.
The API said that: “In one of the most challenging years since establishment of the Real Estate Investment Trust industry in Australia, the winner of the Ernst & Young Joe Curlewis Property Trust Industry Award has delivered positive returns to its investors, significantly outperforming the index, and managed to expand its portfolio.
“HPT is an unlisted trust that has demonstrated innovation by providing investors with access to a highly specialised asset class.”
Mr Chris Smith, portfolio manager – healthcare and industrial property for AUI, said that the award is an acknowledgement of the performance of the Trust for investors, and the strength of its investment philosophy.
“Investment in the healthcare sector offers distinct benefits from the majority of unlisted trusts, including access to a growth industry with increasing business from Australia’s ageing population. In addition, the sector comprises unique assets that are difficult to replicate, from a property and operational perspective.
“HPT was the first fund of its kind to invest exclusively in hospitals and medical centres, a sector which is much more immune from economic downturns. Now in its tenth year, it remains the largest trust of its kind and has delivered outstanding returns to investors,” he said.
Last month, HPT purchased Brunswick Private Hospital and Brunswick House aged care facility in Victoria, for $11.45 million, following the recent refinancing of the borrowings of the Trust with a $220 million facility.
The wholesale version of HPT has returned 7.29% over one year, 9.58% pa over two years, 14.03% pa over three years and 16.78% pa over five years*. The Trust owns a diversified portfolio of healthcare properties including Peninsula Private Hospital in Victoria, Royal Prince Alfred Medical Centre in New South Wales, Wakefield Private Hospital in Adelaide and an IVF clinic at St Leonards on Sydney’s lower north shore in New South Wales.
Australian Unity Investments is the funds management arm of financial services, health and retirement living services provider Australian Unity. It has more than $7.5 billion in funds under management (as at 31 August 2009). 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:
Chris Smith
Phone: 03 8682 4534
Email: csmith@australianunity.com.au
*As at 31 August 2009. Returns are calculated after fees and expenses and assume the reinvestment of distributions. Past performance is not a reliable indicator of future performance as returns may vary.