Cromwell Phoenix named property securities fund of the year by Morningstar

Cromwell Phoenix named property securities fund of the year by Morningstar
Cromwell Phoenix named property securities fund of the year by Morningstar

Cromwell Phoenix Property Securities Fund has won the Morningstar Fund Manager award for listed property for the third consecutive year, confirming its position as one of Australia’s leading property securities funds.

The fund, which closed in 2015 to new investors, invests in ASX-listed property securities and delivered a total annual return of 16.3 per cent last year, outperforming the S&P/ASX 300 A-REIT Accumulation Index by 1.9 percent.
  
“The Morningstar Awards set the benchmark for exceptional fund performance and value for investors. It’s an honour to be nominated but a true display of our team’s expertise to be awarded for the third consecutive year,” said Stuart Cartledge, managing director of Phoenix Portfolios.
 
“The A-REIT market continues to be an attractive proposition for investors. The broader market outlook is improving – the recovery of the Melbourne and Sydney office markets outweighs the weak performance of resource-impacted Perth and Brisbane.”
 
“We expect property will continue to deliver solid returns over 2016 due to the upward pressure on the value of underlying assets, and continued rental growth across all sub-sectors given reliable lease income with built-in increments,” he said.

The Morningstar Awards are designed to help investors identify exceptional funds and fund managers. Fund and fund group nominees are selected based on quantitative methodologies that emphasise outperformance over one, three, and five-year periods.

The awards were announced on March 4. 

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