In the below, ‘us’ or ‘our’ or “management” refers to Australian Unity Funds Management (AUFM) as the Responsible Entity of the Australian Unity Healthcare Property Trust (the Trust).
AUFM is a wholly owned subsidiary of Australian Unity Limited.
What are the changes in application processing?
Both Class A and Wholesale units of the Trust were closed to daily applications when inflows exceeded the capital needs of the Trust.
Since this time, Wholesale Units of the Trust have been opened for limited capital raise periods.
A decision has been made to open both Class A and Wholesale units of the Trust at this point in time to allow daily investment into the Trust by new and existing investors.
The management team are constantly looking at various initiatives as part of the broader capital management strategy for the Trust and believe that re-opening both the Class A and Wholesale Class for daily applications is one of the key elements of this.
What will application proceeds be used for?
In the short term we are aiming to reduce gearing to the bottom end of the targeting range (25% - 35%). This will ensure the Trust has sufficient and appropriate capital buffers, whilst also having capacity and flexibility to act decisively on potential future opportunities.
Will the Trust be available on platforms?
Australian Unity are working with various platforms to have the Trust made available for applications.
Specific platform related queries may best be directed to your platform provider/IDPS operator.
What is the application process?
Applications for units are currently being accepted under the relevant PDS (there are separate PDS’s for Class A and Wholesale units). Applications for investment in the Trust can only be made using the Application Form.
Applications must be received by 3:00pm at our Melbourne office on a business day to be assessed for acceptance. We will notify you of the effective application price and allotment date when you receive your Confirmation of Investment statement.
Pending the issue of units to an investor, the application amount will be held in a trust account that complies with the Corporations Act.
No interest will be paid on application amounts for the period from receipt until the issue of units occurs. Similarly, no interest will be paid to any investor whose application (or part of an application) is returned by us unfilled. Any interest earned on the application amount during this period will be retained by the Trust and form part of its income for the benefit of investors.
The minimum initial investment amount for Wholesale Units is $5,000.
The minimum additional investment amount for Wholesale Units of $1,000.
You should contact your IDPS operator regarding details about the application process and minimum investment amounts for Class A Units.
Class A:
Product Disclosure Statement – click here
Target Market Determination – click here
Application form (Platforms only) - click here
Wholesale units:
Product Disclosure Statement – click here
Target Market Determination – click here
Application Form (Individuals) - click here
Application Form (SMSF) - click here
Application Form (Trust/Companies) - click here
Additional Application Form - click here
Will I receive confirmation of my application?
Applications will be priced using the relevant application unit price for the date the application was accepted and a confirmation statement will be issued to investors.
What is the size of the Trust?
Gross Assets were $3,742 million as at 31 December 2023.
What is the outlook for the Healthcare sector?
Please refer to the Trust’s latest update - click here
The Team recently held a webinar on the Trust - click here
Does the Trust have external product ratings?
Yes. The Trust currently holds the following product ratings:
Lonsec: Highly Recommended **
Zenith: Highly Recommended **
SQM: 4.75 stars **
How often does the Trust pay a distribution?
Distributions are generally paid on a quarterly basis, being March, June, September and December within 15 business days of the end of each calendar quarter.
What are the options for receiving the distribution?
There are two payment options available:
Distribution Reinvestment.
Distribution paid directly to a bank account held at an Australian bank or financial institution.
What is a Distribution Reinvestment Plan?
The Distribution Reinvestment Plan is a convenient way for investors to increase their holding of units in the Trust, as it allows existing investors to automatically reinvest all or part of their distributions in additional units, without incurring transaction costs (there is no buy spread applied). This allows investors to accumulate more units over time and potentially benefit from compounding returns.
Participation in the Distribution Reinvestment Plan is voluntary and investors may apply to participate, change their level of participation, or chose not to participate in the Distribution Reinvestment Plan.
The distribution reinvestment price is the net asset value per unit at the end of the distribution period (without any buy spread) less the amount of distribution payable per unit. This price is then discounted by the relevant percentage amount.
For Class A unitholders, should you wish to reinvest your distributions, please contact your IDPS operator regarding distribution reinvestment availability, requirements and timeframes.
What is the change being made?
We have increased the Distribution Reinvestment Plan discount available for investors from 1.50% to 5% for Wholesale, Retail and Class A units.
This means the distribution reinvestment price will be discounted by 5%.
Why is this being offered?
This is one of various initiatives being employed as part of the broader capital management strategy. A larger Distribution Reinvestment Plan discount has been offered as an incentive for investors to reinvest distributions.
How do I elect this option?
If you wish to reinvest your distributions, please nominate your preference in the Application Form, or for existing investors update your preference using the Change of Details form available from our website. Only investors with an Australian registered address may reinvest their distributions.
Change of details form - click here
Distribution Reinvestment Plan Example
If an investor had 10,000 units, the unit price was $2.50 and the distribution amount per unit was $0.025 per unit for the applicable quarter, then the cash distribution payable would be:
10,000 units x $0.025 = $250.00
Under a full election of the distribution re-investment, an investor would receive 106.3242 new units. This is calculated as follows:
$2.50 - $0.025 = $2.475 (unit price less distribution payable)
$2.475 x (100% - 5%) = $2.3513 (applying the 5% discount)
$250.00 / $2.3513 = 106.3242 units (distribution amount divided by distribution re-investment price)