Institutional Investors

Global Property

The Trust provides an actively managed exposure to a portfolio of securities from international property markets.

Trust Objective

To grow the value of your investment over the long-term through a combination of capital growth and income by investing in a broad selection of international property securities. The Trust aims to provide a total return (after fees) that exceeds the FTSE EPRA/NAREIT Developed TR Index (Hedged to AUD) measured over a rolling three-year period.

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Suitable Investor Profile

This Trust may be suitable for investors with an investment horizon of five years or more, who are seeking exposure to global property markets.

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Fund Facts

Investment Approach

Perennial Real Estate seeks to buy listed, or soon to be listed, global property securities that offer good cashflow growth and consistent income characteristics. Perennial Real Estate has the underlying belief that these securities will offer investors the best long-term total return investment outcomes.

Investment Strategy

The Trust will invest in listed, or soon to be listed, property securities from international property markets, which Perennial Real Estate, the investment manager, believes can offer superior capital growth and income characteristics.

Perennial Real Estate places great emphasis on bottom-up property securities research.

As the Trust grows, the portfolio will typically be expected to hold between 40 and 50 securities, with a minimum of 25 and a maximum of 75.

The Trust is authorised to utilise derivative instruments for risk management purposes, subject to the specific restriction that they cannot be used to gear portfolio exposure.

Currency exposure is generally hedged. From time to time, the Trust may accept unhedged or overhedged exposures.

The Trust will attempt to be fully invested at all times, with a cash exposure not exceeding 10% for any length of time.

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Investment Summary

Perennial Global Property Securities Trust
Minimum Investment $25,000
Minimum Added Investment $5,000
Risk/Return Profile Moderate to High
Returns achieved mainly through Growth & Income
Income Distribution Half yearly
Minimum Recommended Investment Period 5 years

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Unit Prices

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Distribution

Perennial Global Property Securities Trust
Frequency As at Reinvested
NAV Price($)		 CPU Fund Payment CPU * Discounted Capital Gain CPU
Half Yearly 30/06/10 0.5430 0.0000 0.0000 0.0000
Half Yearly 31/12/09 0.5597 0.0000 0.0000 0.0000
Half Yearly 30/06/09 0.4221 0.0922 0.0052 0.0000
Half Yearly 31/12/08 0.4395 0.0000 0.0000 0.0000
Half Yearly 30/06/08 0.7861 5.1748 -- --
Half Yearly 31/12/07 0.9546 2.8500 -- --
Half Yearly 30/06/07 1.0957 7.7109 -- --
Half Yearly 31/12/06 1.2125 2.3400 -- --
Half Yearly 30/06/06 0.9823 1.2441 -- --

* A fund payment is a payment made by a Managed Investment Trust that represents a distribution of its Australian sourced income (other than dividends, interest and royalties).

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Performance and Fees

Perennial Global Property Securities Trust
PERFORMANCE TABLE 1 MONTH % P.A. QUARTER % P.A. FIN. YEAR TO DATE % P.A. 1 YEAR % P.A. 2 YEARS % P.A. 3 YEARS % P.A. 5 YEARS % P.A. SINCE INCEPT. % P.A. FEES  
As at 31/7/2010                 Entry Fee (%) NIL
GROSS PERFORMANCE 7.8 -1.2 7.8 27.7 -11.8 -13.6 -7.4 Exit Fee (%) NIL
BENCHMARK (FTSE EPRA/NAREIT Global Real Estate TRI - Hedged $A) 7.4 -2.1 7.4 25.2 -8.5 -11.1 -4.7 Management Fee (% pa) 1.05
VALUE ADDED 0.4 0.9 0.4 2.5 -3.3 -2.5 -2.7 Performance Fee NIL
NET PERFORMANCE 7.7 -1.5 7.7 26.1 -12.9 -14.6 -8.4 Buy/Sell Spread (%) 0.70
Average Annual Compound Rate of Return
As at 31/7/2010 GROWTH RETURN % P.A INCOME DISTRIBUTION RETURN % P.A. TOTAL RETURN % P.A BENCHMARK % P.A *
1 Year 26.1 0.0 26.1 25.2
3 Years -17.3 2.7 -14.6 -11.1
5 Years
Since Inception -12.5 4.0 -8.4 -4.7

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Publications

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We are Perennial

Copyright © Perennial Investment Partners Limited 2007, Version 3.30.00

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Investment Manager: Perennial Investment Partners Ltd ABN 59 087 901 620, AFSL No. 238763. Sub Manager: Perennial Value Management Limited ABN 22 090 879 904, AFSL No. 247293. Perennial Fixed Interest Partners Pty Limited ABN 35 099 336 357, Perennial International Equities Management Pty Limited ACN 099 336 375, Perennial Growth Management Pty Limited ABN 41 099 336 384 and Perennial Real Estate Investments Pty Limited ABN 35 117 913 685 are Subsidiaries and Authorised Representatives of Perennial Investment Partners Limited.