Resolution Capital Global Property Securities Fund – Series II

The Fund invests in a select number of global listed real estate securities, with the aim of providing income and capital growth over the long term.

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Overview

The Resolution Capital Global Property Securities Fund – Series II (the ‘Fund’) gives investors exposure to the underlying returns of some of the world’s highest quality real estate assets through a professionally managed portfolio of global real estate investment trusts (‘REITs’) and property companies. The Fund is denominated in $A and does hedge the underlying foreign currency exposures.

Portfolio Managers

Andrew Parsons
Chief Investment Officer / Portfolio Manager

Andrew Parsons

B. Economics, F. Fin, FAPI, FRICS.

Andrew is one of the founding members of Resolution Capital. Andrew has over 30 years experience in global financial and property markets.

Prior to founding Resolution Capital Andrew worked for the Australian Stock Exchange, CS First Boston and Lend Lease, and is a past Chairman of the Property Council of Australia’s Capital Markets Committee.

Andrew is also a Fellow of the Australian Property Institute, and a Fellow of the Royal Institute of Chartered Surveyors.

Marco Colantonio
Portfolio Manager

Marco Colantonio

B. Applied Science (Land Econ) F Fin, AAPI.

Marco is one of the founding members of Resolution Capital and has over 30 years experience in global financial and property markets.

Marco has previously worked as a Senior Valuer at Jones Lang LaSalle and as a Consultant in JLL’s Advisory business where he was involved in valuing and advising institutional clients in regard to commercial real estate portfolios. He also worked as an Equities Research Analyst at BBY, and a Capital Transactions executive at Lend Lease. While at Lend Lease, Marco worked on real estate projects in Japan and Singapore.

Robert Promisel
Portfolio Manager

Robert Promisel

BA. Economics and Geography, MS. Urban Planning.

Robert joined Resolution Capital in 2011 as a Global Portfolio Manager. Robert has over 30 years experience in listed real estate securities, bringing a wealth of experience to the team.

Robert has previously worked as the Director of Real Estate Securities at Invista Real Estate in London, Principal and Portfolio Manager with Adelante Capital, and Vice President at European Investors Inc, both in the United States. He has also worked at AEW Capital Management in Boston and RREEF in San Francisco.

Julian Campbell-Wood
Portfolio Manager

Julian Campbell-Wood

B. Business (Accounting / Finance), M.S Finance, CFA UK.

Julian joined Resolution Capital in 2013 as a Senior Analyst and was promoted to Core Plus Co-Portfolio Manager in July 2014, and again to Global Portfolio Manager in October 2018. Julian commenced in the industry, specifically the real estate sector in 2004.

Julian has previously worked as an Analyst for Barclays Capital and in the real estate division of Macquarie Bank, both in London.

Julian is currently a member of the CFA UK society.

Key features

APIR IOF0081AU
ARSN 118 190 542
Investment return objective¹ The Fund aims to achieve an annual total return that exceeds the total return of the Benchmark after fees on a rolling 3 year basis
Benchmark FTSE EPRA/NAREIT Developed Index (AUD Hedged) Net TRI
Suitable Investor Profile This product is intended for use as a minor or satellite allocation for a consumer who is seeking capital growth and has a high or very high risk /return profile for that portion of their investment portfolio. It is likely to be consistent with the financial situation and needs of a consumer with a 5-year investment timeframe and who is unlikely to need to withdraw their money on less than one week’s notice.
Risk High - Very high
Suggested minimum investment period Medium to long-term, being 5 or more years
Portfolio Allocation 85% – 100% invested in global listed REITs and real estate securities
0% – 15% invested in cash and short dated money market securities
Inception Date² 30 April 2006
Minimum Investment $25,000
Management Fee 1.05% p.a. of the NAV of the Fund
Buy/Sell Spread +0.20%/-0.20%
Distributions Quarterly, payable in the month following the periods ending 30 September, 31 December, 31 March and 30 June

1The investment objective is not intended to be a forecast, it is only an indication of what the investment strategy aims to achieve over the medium to long term. The Fund may not achieve its investment objective and returns are not guaranteed.
2Please note this Fund was previously known as the Perennial Hedged Global Property Wholesale Trust. Resolution Capital was appointed the investment manager of the Fund effective 1 November 2014.

Ratings

The Resolution Capital Global Property Securities Fund – Series II received a ‘Gold’ Morningstar Analyst Rating™ (as of 18 July 2023)1, and a ‘Highly Recommended’ rating from Zenith (July 2024)2 and Lonsec (September 2023)3, and has been certified by the Responsible Investment Association Australasia according to the strict operational and disclosure practices required under the Responsible Investment Certification Program. See www.responsiblereturns.com.au for details.4
For more information, view the “Disclaimer and disclosure” section at the bottom of the page.

Net Performance

1Resolution Capital Global Property Securities Fund – Series II. This Fund was previously known as the Perennial Hedged Global Property Wholesale Trust. Resolution Capital became the Investment Manager of the Fund effective 1 November 2014.
2Benchmark is FTSE EPRA/NAREIT Developed Index (AUD Hedged) Net TRI. Prior to 1 April 2015 the benchmark was UBS Global Real Estate Investors Index (AUD Hedged) Net TRI and prior to 1 November 2014 the FTSE EPRA/NAREIT Developed Index (AUD Hedged) Net TRI.
3Inception Date: 30/04/2006.

Disclaimer: Past performance is not a reliable indicator of future performance.

Returns of the Fund are net of applicable fees, costs and taxes.

Latest Monthly Performance Report

A$25,000 Invested Since Inception (30 April 2006)

The benchmark index is the FTSE EPRA/NAREIT Developed Index (AUD Hedged) Net TRI to 1 November 2014. Thereafter UBS Global Real Estate Investor Index (AUD Hedged) Net TRI. From 1 April 2015, FTSE EPRA/NAREIT Developed Index (AUD Hedged) Net TRI.
Please note this Fund was previously known as the Perennial Hedged Global Property Wholesale Trust. Resolution Capital was appointed the investment manager of the Fund effective 1 November 2014.

Past performance is not a reliable indicator of future performance. Calculations are based on exit price with distributions reinvested, after ongoing fees and expenses but excluding taxation.

Unit Prices and Distributions

Unit Price History

Please note there will be a delay on the publication of unit prices due to the calculation of distributions for the quarter to 31 December 2024.

Distribution History

Download Distribution Timetable
Download Distribution History
Distribution Taxation Components

Reports

Monthly Report
Annual Financial Report
Interim Financial Report
Quarterly ESG Report
Portfolio Holdings Report*

*The Fund may gain its exposure to global real estate markets by holding units in other managed investment schemes managed by Resolution Capital, including the Resolution Capital Global Property Securities Fund (Managed Fund) (ARSN 128 122 118) (‘Underlying Fund’).

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Platform availability

You can invest in the Fund on the below Platforms. If the Fund is not available on your preferred platform, please contact us. Please check with your platform for minimum investment requirements and fees.

AMP North

Asgard

BT Panorama

DASH

FNZ

HUB24

HUB24 Xplore

IconiQ

Insignia Expand

Insignia Financial Wrap

JB Were Multi-Asset Platform

Macquarie Wrap

Netwealth

OneVue

Powerwrap

Praemium

Apply Online

Complete and submit an application in a fraction of the time it takes to invest via a paper based application. Investors with a verified account can quickly and easily top-up investments or invest in other funds.

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Fund Documents and Forms

Frequently Asked Questions

Applications

  1. How do I invest?

    Online Applications are available for individuals, partnerships, SMSFs, superannuation funds, other regulated trusts, and companies.

    Note, applications for unregulated trusts (such as family and testamentary trusts) CANNOT be completed online.

    To register and invest online, click on “Invest”, which will direct you to the Online Application portal hosted by our affiliate, Pinnacle Investment Management. Alternatively, and for unregulated trusts, please refer to the Fund Documents and Forms section above to download and complete the paper based Application Form.

    Post to:
    Resolution Capital
    C/- Citi Unit Registry Australia
    GPO Box 764
    Melbourne VIC 3001

  2. Can I fax or email through the Application Form?

    No, the original Application Form must be posted. As stated in Section 3 of the Application Form, only existing clients whose details as held by the Registry have not changed can fax through their Application Form.

  3. What day will I get my application processed?

    Applications received prior to 12:00pm Sydney time (on a Sydney business day) are deemed to be received that day. Applications received after 12:00pm Sydney time are deemed to be received the next business day. Note that applications are only processed once the Registry receives the correctly completed Application Form and are satisfied with the AML/CTF and other verification information.

  4. Can the account be solely under a minor’s name?

    No. An adult or guardian must open the account on behalf of the minor (i.e. acting as trustee for the minor). The account will include the name of the adult. As such, information of the adult and the minor must be recorded in the Application Form.

  5. If I provide my adviser access to my account information per Section 6 of the Application Form, are they authorised to act on my account?

    No, they are not. Advisers will only be copied in on your transaction statements, investor communication and Annual Financial Reports UNLESS you choose to nominate them as an authorised representative. Refer to the ‘Authorised Representative” section of this FAQ.

  6. If I am acting under a Power of Attorney (POA), do I have to provide a certified copy of the POA?

    Yes. Attach an original certified copy of the Power of Attorney. The front page and the signature pages of the document must be certified at a minimum. Provide an original certified copy of identification documents for the Attorney(s) as required for individuals (i.e. current Australian driver’s licence or passport) or company (refer to C.6 or D.6 of section 2 of the Application Form). All Attorneys must be identified.

  7. Can I request for my initial investment to be direct debited?

    No. We cannot direct debit your initial investment.

  8. If I have provided the payment but you have questions on my Application Form, will my application be processed?

    No. A correctly completed Application Form and satisfactory AML/CTF and other verification information must be received by the Registry before your application can be processed.

Identification Documents

  1. What other documents can be provided if a person does not have a current Australian driver’s licence or passport?

    Click here for full list of acceptable identification documents in this situation.

  2. Can I use an expired Australian driver’s licence or passport as identification?

    The Australian driver’s licence must be valid and cannot be expired. An Australian passport that has expired within the preceding 2 years is acceptable.

  3. Who is an acceptable certifier?

    Click here for a full list of persons both in Australia and outside of Australia who are acceptable certifiers.

  4. What information needs to be included by the certifier?

    The person certifying the document will need to include the following information on the photocopy:

    I. “I certify that this is a true copy of the original document”;
    II. the certifier’s:
    – full name; and
    – occupation, qualification, position or registration number (if any), which makes them eligible to certify documents;
    III. the date the document was signed; and
    IV. the certifier’s signature.

    Please note that the certification must be in original wet ink and the certifier cannot provide certification for themselves or their family member. If the certification is not acceptable, you may be asked for new certified documents.

  5. Can I send a copy or scan of a certified document?

    No. You must send us the original certified copy of the document. That is, the original signature of the certifier on the photocopied document.

  6. If I have to provide a certified copy of a trust deed, can I provide excerpts?

    Yes. However, you MUST provide the certified copy of the following pages of the trust deed:

    I. The cover page;
    II. The page which documents the name of the trust and the trustee (preferably on the same page in order to verify the relationship);
    III. The page with the date of the trust deed;
    IV. The signed pages of the trust deed;
    V. The page that lists the name and/or class of beneficiaries of the trust; and
    VI. The page which documents the name of the settlor.

Authorised Representatives

  1. What does an authorised representative mean?

    A person or company appointed as your authorised representative is authorised by you to: apply for units in the Fund(s) and sign all documents necessary for this purpose; make requests to redeem all or some of your units (receipt by the authorised representative or as directed by the authorised representative fully discharges our redemption obligations to you); and make written requests for information regarding your investment. Please refer to the PDS for the applicable terms in appointing an authorised representative.

  2. How do I appoint an authorised representative?

    You can appoint an authorised representative at any time by completing the relevant Authorised Representative Form (Individual or Company) and post the original together with accompanying documents to the Registry.

  3. Is the authorised representative required to be verified for AML/CTF purposes?

    Yes. Please also provide an original certified copy of documents as stated on the Authorised Representative Form.

  4. How do I remove an authorised representative?

    You can cancel your appointment of the authorised representative by giving us 14 days prior notice in writing. You may post or fax your signed written instruction to the Registry. If the instruction is posted, please allow for sufficient time for the Registry to receive the document when determining the date on which the 14 days notice period begins.

    Post or fax to:
    Resolution Capital
    C/- Citi Unit Registry Australia
    GPO Box 764
    Melbourne VIC 3001
    Fax : +61 1300 102 151

Additional Investments

  1. How do I make additional investments in a current account?

    Click on “Invest”, which will direct you to the Online Application portal hosted by our affiliate, Pinnacle Investment Management, where you will be able to register (or login if you are already registered) to make Additional Investments online. Note that unregulated trusts (such as family and testamentary trusts) CAN make Additional Investments online.

    Alternatively, you can complete an Additional Investment Form or send a written instruction that is signed by the authorised signatories to the account. The Additional Investment Form can be found within the Fund Documents and Forms section above. This can be faxed or posted to the contact details provided on the form.

    The minimum additional investment amount is $5,000 per fund or as agreed with the Responsible Entity. If you are an indirect investor, please contact your IDPS operator for information on how to make an additional investment.

    Payments can be made via BPAY or EFT as per the payment details provided on the form or with the online application process, remembering to include your investor number as reference if paying by EFT.

  2. Can I fax the additional investment instruction?

    Yes.

    Fax during business hours:
    [Fund Name] [Investor Name]
    C/- Citi Unit Registry Australia
    +61 1300 102 151

  3. As an existing investor, can I use the Additional Investment Form to invest in another fund managed by Resolution Capital?

    Yes, if you are currently invested in a Resolution Capital Fund administered by Citigroup then you can invest in another Resolution Capital Fund administered by Citigroup by completing an Additional Investment form; or alternatively via Client Login, log in to the portal with your user ID and password (note your user ID is different to your Investor number) and place a transaction into the new Fund you wish to invest in.

    Please note, if you are wanting to invest in the Resolution Capital Global Property Securities Fund (Managed Fund), please refer to the applicable Fund page for further details as this Fund has a specific application process.

Redemptions

  1. How do I redeem from a current account?

    You can redeem part or all of your investment at any time by completing a Redemption Request Form which can be found in the Fund Documents and Forms section above and submit it direct to the Registry by fax or post as per the details provided on the form.

    Alternatively, you can redeem online by clicking on “Invest” where you can login to the relevant online portal with your username and password or register for online access.

    Note, there is a minimum redemption amount of $5,000 and the minimum balance required is $25,000.

  2. If my balance falls below the minimum investment balance of the Fund, do I have to make a full redemption?

    Please refer to the relevant PDS and note that if your account balance is less than the minimum investment balance, we may treat your withdrawal request as being for your entire investment. In which case, we will provide you with advance notice before processing your redemption request.

  3. Are there any exit fees?

    No, Resolution Capital does not charge entry or exit fees on any of its products.

  4. Can I fax the redemption request?

    Yes.

    Fax during business hours:
    [Fund Name] [Investor Name]
    C/- Citi Unit Registry Australia
    +61 1300 102 151

  5. Can I change the bank account details that are currently held by the Registry on the redemption request instruction?

    You may update your bank account details at the same time as submitting your redemption request by using the Redemption Request Form.
    Please note that proceeds cannot be made to third party bank accounts. The nominated bank account name must be in the same name as the investor(s).

  6. When will my redemption request be processed?

    Please refer to the PDS and note that when you redeem, your units will be redeemed based on the exit price for the business day on which your redemption request is processed. Redemption requests must be received by the Registry prior to the cut-off time 12.00pm Sydney time. Redemption requests received after that time, or on a non-business day, will be treated as being received on the next business day.

Change of Details / Transfers / Switching

  1. How do I notify you of changes to my details?

    a) Complete the Change of Details Form which can be found within the Fund Documents and Forms section above, or draft a letter with the following details:

    I. Date
    II. Name of Fund
    III. Investor name
    IV. Investor number
    V. Nature of change

    b) Signed by authorised signatories (in accordance with your Application Form)

    c) Post or fax to:
    Resolution Capital
    C/- Citi Unit Registry Australia
    GPO Box 764
    Melbourne VIC 3001
    Fax: +61 1300 102 151

  2. How do I transfer my units into another name?

    Transferring your investment or part thereof into another name is likely to have taxation implications so you should check with your financial adviser or taxation consultant first. Should you wish to proceed, please complete an Australian Standard Transfer Form (ASTF) along with a new Application Form, providing the required identification and/or documentation as requested on the Application Form for the new entity. Post these forms together to the Fund Administrator as per the details provided on the application form, along with your instructions including:

    I. Existing investor number
    II. Name in which the existing investment is held
    III. Quantity of units to be transferred
    IV. Daytime contact details
    V. Signature of the authorised investor(s)

  3. Can I switch my investment to a different Resolution Capital Fund?

    A switch operates as a withdrawal of units in one Fund and the investment of units in the other Fund, and therefore may have taxation implications. Please contact a licensed financial or taxation adviser for further information. There is no switching fee applicable, however a buy/sell spread or a contribution fee will apply to the relevant Fund(s) at the time of the switch. Before making a decision to switch, you should read the relevant PDS.

    You may switch from one Resolution Capital Fund to another Resolution Capital Fund at any time (except Resolution Capital Global Property Securities Fund (Managed Fund)), by completing a Switch Form which can be found in the Fund Documents and Forms section above. The switch form outlines the Funds you can switch between. The completed switch form needs to be faxed or posted to the Fund Administrator as per the details provided on the form.

Tax / Distributions

  1. Do I need to quote my tax file number (TFN)?

    Investors may choose not to quote their tax file number but Resolution Capital will be required by law to deduct tax at the highest marginal tax rate plus the Medicare levy before paying distributions.

  2. What are the tax implications of investing?

    If you have supplied your tax file number, Resolution Capital’s distributions are made on a pre-tax basis and as such may be counted as income to the investor. When redeeming investments, any gains or losses in the principal investment will be treated as capital gain or loss for taxation purposes.

  3. What options do I have to receive my distributions?

    You can elect to have your distributions directly deposited into your nominated bank account or reinvested in the Fund.

  4. How do I change how I am paid my distribution?

    To change how you receive your distributions, complete the Change of Details Form or draft a letter with the following details:
    I. Investor number
    II. Name in which the existing investment is held
    III. How you would like to receive your distribution i.e. direct deposit (include BSB, account number, financial institution name, name in which the account is held), or distribution reinvestment.
    IV. Daytime contact details
    V. Signature of the authorised investor(s)

    Post or fax to:
    Resolution Capital
    C/- Citi Unit Registry Australia
    GPO Box 764
    Melbourne VIC 3001
    Fax: +61 1300 102 151

  5. When are distributions paid?

    Resolution Capital pays a distribution four times a year in the month following the quarterly periods ending 30 September, 31 December, 31 March and 30 June. Distribution payments are not guaranteed as they are subject to the earnings of the Fund.

Tax Certifications / FATCA and CRS

  1. Why do I have to provide tax certifications?

    Tax evasion is a global problem and international cooperation and sharing of high quality, predictable information between revenue authorities will help them ensure compliance with local tax laws.

    Australia is participating in both the Foreign Account Tax Compliance Act (‘FATCA’), which was enacted by the United States (U.S.) Congress and the Common Reporting Standard (‘CRS’), which was developed by the OECD.

    FATCA
    Australia and the US have signed an Intergovernmental Agreement (‘IGA’) to implement the FATCA requirements in Australia. Under the IGA, Australian financial institutions report to the Australian Taxation Office (‘ATO’) and the information is made available to the IRS. The Fund is therefore required to request information from you to determine whether you are a US Person or Specified US Person and where applicable, provide information to the ATO.

    You may review the ATO website and the IGA or consult your tax advisor should you wish to understand the implications or compliance obligations of FATCA to your particular circumstances. The Responsible Entity and the Fund are not liable for any loss an investor may suffer as a result of the Fund’s compliance with FATCA.

    CRS

    Under the CRS, we are required to determine the country in which you are a ‘tax resident’ (this will usually be where you are liable to pay income taxes). If your tax residence (or the Controlling Person) is located outside of Australia, we may be legally obliged to pass on the information in this form and other financial information with respect to your financial accounts to the ATO and they may exchange this information with tax authorities of another jurisdiction or jurisdictions pursuant to intergovernmental agreements to exchange financial account information. Even if you have already provided information in relation to FATCA, you may still need to provide additional information for the CRS as this is a separate regulation.
    Providing your tax certifications will ensure that we hold accurate and up to date information about your tax residency.

    You may review the ATO website and the IGA (FATCA) and the OECD automatic exchange of information portal (CRS) or consult your tax advisor should you wish to understand the implications or compliance obligations of FATCA and CRS to your particular circumstances. The Responsible Entity and the Fund are not liable for any loss an investor may suffer as a result of the Fund’s compliance with FATCA and CRS.

  2. Can I attach self certification forms (e.g. W-8BEN-E and CRS forms) instead of answering the tax certification questions on the Application Form?

    Yes, for non-individuals, we do accept original or certified copy of self-certification forms.

  3. Can I have more information on FATCA and CRS related terms?

    Click here for a Glossary outlining further definitions and explanations for FATCA and CRS related terms.

Continuous Disclosure

Change of address: Effective 19 June 2023, Resolution Capital’s new office address in Sydney is: Level 31, 20 Bond Street, Sydney, NSW 2000, Australia. Read more

Distribution Frequency: Please note effective 1 January 2021 the distribution frequency of the Resolution Capital Global Property Securities Fund – Series II has changed from half yearly to quarterly, payable in the month following the periods ending 30 September, 31 December, 31 March and 30 June. Read more

Disclaimer and disclosure:

This webpage is prepared by Resolution Capital Limited (‘Resolution Capital’) (ABN 50 108 584 167, AFSL 274491) as the investment manager of the Resolution Capital Global Property Securities Fund – Series II (ARSN 118 190 542) (‘the Fund’). Pinnacle Fund Services Limited (‘PFSL’) (ABN 29 082 494 362, AFSL 238371) is the product issuer of the Fund and is a wholly owned subsidiary of Pinnacle Investment Management Group Limited (‘Pinnacle’) (ABN 22 100 325 184). PFSL is not licensed to provide financial product advice.

The information contained in this webpage is general information only and does not take into account your objectives, financial situation or needs. Before making a decision to acquire, or continue to hold units in, the Fund, you should consider the Product Disclosure Statement (PDS) and Target Market Determination (TMD). For historic TMDs, please contact Pinnacle Client Services via phone 1300 010 311 or email service@pinnacleinvestment.com. Any persons relying on this information should obtain professional advice before doing so and consider the appropriateness of the information having regard to your specific circumstances.

Past performance is not a reliable indicator of future performance and the repayment of capital is not guaranteed. The specific risks associated with investing in the Fund, and the risks associated with the Fund’s investments, are discussed in Section 4 of the PDS. Any opinions and forecasts reflect the judgment and assumptions of Resolution Capital and its representatives on the basis of information available as at the date of publication and may later change without notice.

1Morningstar Disclaimer:

The Morningstar Analyst Rating™ for the Resolution Capital Global Property Securities Fund (Managed Fund) is ‘Gold’ as of 18 July 2023.
The Morningstar Analyst Rating™ for the Resolution Capital Global Property Securities Fund (Managed Fund) (ASX: RCAP) is ‘Gold’ as of 18 July 2023.
The Morningstar Analyst Rating™ for the Resolution Capital Global Property Securities Fund - Series II is ‘Gold’ as of 18 July 2023.
The Morningstar Analyst Rating™ for the Resolution Capital Global Property Securities Fund (Unhedged) - Series II is ‘Gold’ as of 18 July 2023.

© 2024 Morningstar, Inc. All rights reserved. Neither Morningstar, its affiliates, nor the content providers guarantee the data or content contained herein to be accurate, complete or timely nor will they have any liability for its use or distribution. Any general advice or 'class service' have been prepared by Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892) and/or Morningstar Research Ltd, subsidiaries of Morningstar, Inc, without reference to your objectives, financial situation or needs. Refer to our Financial Services Guide (FSG) for more information at https://www.morningstar.com.au/s/fsg.pdf. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Our publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Past performance does not necessarily indicate a financial product's future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Some material is copyright and published under licence from ASX Operations Pty Ltd ACN 004 523 782 ("ASXO").

2Zenith Disclaimer:

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (Resolution Capital Global Property Securities Fund (Managed Fund) (ASX: RCAP), Resolution Capital Global Property Securities Fund – Series II, Resolution Capital Global Property Securities Fund (Unhedged) – Series II and Resolution Capital Real Assets Fund assigned July 2024) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Fund Research Regulatory Guidelines.

3Lonsec Disclaimer:

The ratings issued 09/2023 Resolution Capital Global Property Securities Fund (Managed Fund) (ASX:RCAP), 09/2023 Resolution Capital Global Property Securities Fund (Managed Fund), 09/2023 Resolution Capital Global Property Securities Fund (Unhedged) - Series II, 09/2023 Resolution Capital Global Property Securities Fund - Series II, 05/2024 Resolution Capital Real Assets Fund and 05/2024 Resolution Capital Global Listed Infrastructure Fund are published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec). Ratings are general advice only, and have been prepared without taking account of your objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec assumes no obligation to update. Lonsec uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2024 Lonsec. All rights reserved.

4RIAA Disclaimer:

The Responsible Investment Certification Program does not constitute financial product advice. Neither the Certification Symbol nor RIAA recommends to any person that any financial product is a suitable investment or that returns are guaranteed. Appropriate professional advice should be sought prior to making an investment decision. RIAA does not hold an Australian Financial Services Licence.