RF CorVal Property Fund
The Fund aims to provide quarterly income and the potential for long-term capital growth. A single point of access for investors to a portfolio of quality Australian commercial properties.
The RF CorVal Property Fund is an open-ended, unlisted property fund that aims to provide investors with quarterly income and the potential for long-term capital growth by investing in a portfolio of Australian property assets, diversified across geography, asset class and tenant.
RF CorVal believes unlisted property is an inefficient asset class that offers astute investors the opportunity to benefit from pricing advantages by capitalising on superior local information and knowledge.
The experienced team at RF CorVal has invested through the many property cycles and understands the importance of the timing of both acquisitions and disposals.
Strategy
The fund aims to achieve its objective by investing in high-quality commercial properties including assets in the office, industrial/logistics, healthcare, agriculture and retail sectors. The fund may also own properties in other emerging property sectors such as hotels, childcare and others.
Approach
RF CorVal employs a disciplined approach to real estate investing that is based on understanding and evaluating investment risk through a detailed knowledge of the markets and an understanding of the property fundamentals that drive long term value.
The fund’s portfolio comprises of 21 Australian properties (as at March 2023) with the following aggregate exposure:
For more information on the current portfolio please visit the website:
www.corval.com.au/open-for-investment/rf-corval-property-fund/
The Fund has rolling five-year Liquidity Events on the anniversary of the fund launch; the next one being in February 2027.
The Fund also offers investors the opportunity to withdraw their investment on a monthly basis, subject to the liquidity of the Fund. These monthly redemptions may be limited i.e. scaled back, delayed or suspended in certain circumstances, including where the Fund has insufficient liquidity.
CorVal Partners Limited (ACN 130 628 830) (CorVal Partners) is the responsible entity of the RF Corval Property Fund ARSN 656 171 158 (Fund). Before making an investment in relation to the Fund, it is important you read the Product Disclosure Statement (PDS) dated 28 February 2023. The PDS is issued by CorVal Partners and is available from www.corval.com.au/CPF or by calling (02) 8203 8400. The Fund’s target market are consumers seeking capital growth and income distributions who intend to invest a satellite / small allocation or a core component not exceeding 50% of their portfolio over a long investment timeframe, and who have a medium risk/return profile and need limited access to capital. Applications for units in the Fund can only be made on the application form accompanying the PDS or the online application form.
All investments carry risk. Risks can impact on distributions and capital returns over the term of the Fund. It is important that you read the PDS and understand the risks of investing. This information is general information only and does not take into account the objectives, financial situation, or particular needs of any person. You should consider whether an investment in the Fund is appropriate for you and consult your financial or other professional advisor before investing.
RF CorVal and its associates will receive fees in relation to an investment in the Fund which will be detailed in the PDS.
Past performance is not indicative of future performance. Any forward-looking statements in this document are provided as a general guide only and subject to the risks and assumptions to be set out in the PDS. Neither capital growth, distributions nor tax consequences are guaranteed. CorVal does not guarantee the performance of the Fund.
RF CorVal is a specialist property fund manager and investor whose executives and shareholders have a long and deep history in the Australian property industry and a proven track record. RF CorVal has acquired in excess of $2.6 billion of real estate on behalf of institutional, wholesale, overseas and retail investors.
RF CorVal’s objective is to provide investors with access to Australian real estate opportunities that deliver strong risk-adjusted returns, by investing in high-quality unlisted properties and offering complete transparency and an absolute focus on performance.
Rob has overall responsibility for the business, including investment decisions, capital management and the establishment of property investment vehicles.
Rob has over 30 years of experience in the Australian financial services and property industry, with wide-ranging involvement in the establishment, re-structuring and on-going management of various property funds on behalf of both retail and private wholesale investors, family offices and institutional mandates.
Kerr is responsible for the establishment, investment and ongoing management of funds and mandates.
He has overall responsibility for all aspects of these funds including establishing the fund strategy, raising capital, acquisitions, asset and portfolio management, financing and investor relations and communication.
Kerr has over 25 years of experience in the property and funds management industry and has managed both listed and unlisted funds in Australia and Europe.
Kerr previously worked for ING Real Estate in Sydney as the Fund Manager of the listed retail property trust and for Tishman Speyer in Europe in a number of senior roles including managing that group's pan-European core office funds with total assets in excess of $4 billion.
Jimmy is primarily responsible for the RF CorVal Property Fund, having joined RF CorVal in 2022 after spending 15 years with Macquarie Group, most recently as an Associate Director within Macquarie Asset Management based in Sydney. His experience covers a broad range of asset classes including fixed income, Australian equities, Global & Emerging Market equities, infrastructure & property as well as both liquid and illiquid Alternative asset classes.
Sanjeev is responsible for the financial and investment management strategies for the RF CorVal Property Fund. Prior to joining CorVal in 2019, Sanjeev spent 5 years in institutional real estate with GPT Group where he held a number of positions across the platform including valuations, funds management and asset management.
The Fund has been up and running for 1 year now and it continues to provide investors a simple, low-cost access point to RF Corval’s active style of real estate investing.
Pleasingly the Fund has delivered 10.85% in the first year including income of +5%. This was despite many comparable investments struggling to deliver positive absolute returns over the past year.
RF Corval believes that real estate markets are at a turning point in the cycle and that the Fund is well placed to capitalise as an evolving market presents attractive buying opportunities.
February 2023 Fund Report
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