Pengana-Credo European Property Trust
Investment Strategy
The Trust’s strategy is to invest primarily in retail and office properties (with industrial and alternative properties as a secondary focus). The Trust does not intend to take on development or construction risks nor does it intend to invest in any properties where the levels of rental income are primarily derived with reference to the operational performance of the tenant.
The Trust aims to maximise income and capital returns through active property management and an opportunistic yet focused acquisition strategy.
The Initial Portfolio has a diverse tenant base. Major tenants, which represent 83.3% of the rental income of the Initial Portfolio, are the Edeka Group (a leading food retailer in Europe and the largest food retailer in Germany), Rewe Group (one of the leading food retailers in Europe and the second largest food retailer in Germany), Schwarz Group (Germany’s second largest network of food discount retailers), Norma (a German discounter), Tengelmann (a grocery, DIY, and a clothing retailer), and Peugeot (Europe’s second largest car manufacturer).
Fund Managers
|
|
Pengana Credo Fund Management Team
Pengana Capital is the Trustee and Joint Manager of the Trust, and oversees the structuring, capital raisings and risk management.
The Manager is a joint venture between Pengana and Credo. The Manager provides management services to the Trustee (including the evaluation and execution of investment opportunities) and asset management services in relation to the Initial Portfolio and any further properties acquired by the Trust. In addition, through Credo, the manager is responsible for sourcing new investment opportunities for the Trust.
The Trustee has appointed an investment committee to primarily assist the Trustee in making decisions regarding acquisitions, disposals, due diligence and certain other matters relating to the Trust assets.
|
Fund Features
| Fund Style |
Closed end unlisted Australian Property Trust |
| Inception Date |
18 May 2007 |
| Fees |
see the Information Memorandum |
| Fund Investments |
European property |
| Date Closed |
11 May 2007 |
| Equity Raising |
$52.4 million |