Resolution Capital Global Property Securities PIE Fund

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 PIE Fund (the ‘Fund’) gives investors exposure to the underlying returns of some of the world’s highest quality real estate assets through a select portfolio of global real estate investment trusts (‘REITs’) and property companies. The Fund is denominated in NZD 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

Strategy Global Listed Real Estate
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
Benchmark² FTSE EPRA/Nareit Developed Index Net TRI (100% Hedged to NZ dollars)
Risk High - Very high
Suggested minimum investment period Medium to long-term, being 5 or more years
Portfolio Allocation³ 85% – 100% invested in global listed REITs and real estate securities*
0% – 15% invested in cash and short dated money market securities
Inception Date (Fund) August 2024
Fees 1.05% p.a.
Buy/Sell Spread +0.20%/-0.20%
Issuer and Manager FundRock NZ Limited

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.
2Further information on the Fund’s Benchmark can be found here: https://www.ftserussell.com/products/indices/epra-nareit
3The above ranges are indicative only. The Fund will be rebalanced within a reasonable period of time should the exposure move outside of the above ranges.
*The Fund may also invest in international or domestic shares proposed to be listed within six months on any such recognised exchange, limited to 10% of the Fund’s net asset value.

Ratings

The Resolution Capital Global Property Securities Fund (Managed Fund) received a ‘Gold’ Morningstar Analyst Rating™ (as of 18 July 2023)1, 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.

A$25,000 Invested Since Inception (30 September 2008)

The benchmark index is the FTSE EPRA/NAREIT Developed Index (AUD Hedged) Net TRI. Note: From 1 April 2015 the benchmark changed from UBS Global Real Estate Investors Index (AUD Hedged) Net TRI to FTSE EPRA/NAREIT Developed Index (AUD Hedged) Net TRI.

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. Investors who apply for units directly with the Responsible Entity may pay a different price per unit to an investor who purchases those units on the ASX at the same time, and such differences may have a material impact on the performance of that investment. The above performance reflects the performance of the Fund where units are purchased and redeemed directly with the Responsible Entity only.

Performance

Annual Financial Report
Fund Flyer
Quarterly ESG Report

Unit Prices

Unit Price History

Distribution History

Download Distribution Timetable
Download Distribution History
Distribution Taxation Components
Annual Financial Report
Fund Flyer
Quarterly ESG Report

Invest Now

You can download a printer-friendly application form below. You will need to print and complete the form, sign and return to FundRock NZ Limited, PO Box 25003, Wellington 6140, New Zealand via post or email: contact@fundrock.com

NZ$25,000 minimum initial investment.

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.

Invest Now

Fund Documents and Forms

Application Form
Additional Application Form
Redemption Form
Product Disclosure Statement

What are PIE funds?

The Resolution Capital Global Property Securities strategy is now available to New Zealand investors in the form of a portfolio investment entity, or PIE fund.

A portfolio investment entity (PIE) fund is a type of New Zealand managed fund. There are special tax rules that apply to income earned by PIE funds.*

A potential benefit of using a PIE fund for a New Zealand-resident individual investor is the different tax rates on investment income determined by their Prescribed Investor Rate (PIR). The PIR for a New Zealand-resident is determined by their taxable income over the previous two years, and in some cases may be a lower rate than the investor’s marginal tax rate. It’s important you know your correct PIR before investing (if you are unsure, seek professional advice, contact the Inland Revenue Department or go to their website). A PIE fund may also provide administrative benefits for New Zealand taxpayers as PIE tax is a final tax.

Note that each investor has a unique and different tax position, and you should seek your own tax advice prior to making any investment decision. Before you invest you should make yourself aware of the investment risks.

FundRock NZ Limited (“FundRock”) in Wellington, New Zealand is the Manager & Issuer of the Fund, with investment management undertaken by Resolution Capital.

* Resolution Capital does not provide tax advice and is not a registered tax agent. The information on this website does not constitute tax and/or legal advice and should not be relied upon as such. You should seek tax, legal or other professional advice before acting or relying on any information.

Disclaimer

All website content in respect of the Resolution Capital Global Property Securities PIE Fund (the Fund) is issued by FundRock NZ Limited (“FundRock”) as issuer and manager of the Fund and is prepared by Resolution Capital Limited (‘Resolution Capital’) (ABN 50 108 584 167, AFSL 274491) as the investment manager of the Fund. For the Information Memorandum please visit  www.fundrock.com/fundrock-new-zealand.

The information provided in this website is of a general nature only and has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision in respect of the Fund, you should consider the current Information Memorandum of the Fund, and assess whether the Fund is appropriate given your objectives, financial situation or needs. If you require advice that takes into account your personal circumstances, you should consult a licensed or authorised financial adviser.

Neither FundRock nor Resolution Capital guarantees repayment of capital or any particular rate of return from the Fund. Neither FundRock nor Resolution Capital gives any representation or warranty as to the currency, reliability, completeness or accuracy of the information contained in this website. All opinions and estimates included in this website constitute judgments of Resolution Capital as at the date of website creation and are subject to change without notice. Past performance is not a reliable indicator of future performance.

1Morningstar Disclaimer:

The Morningstar Medalist Rating™ for the Resolution Capital Global Property Securities Fund – Active ETF is ‘Gold’ as of 25 July 2024. (Analyst-Driven % 100, Data Coverage % 100).
The Morningstar Medalist Rating™ for the Resolution Capital Global Property Securities Fund - Series II is ‘Silver’ as of 25 July 2024. (Analyst-Driven % 100, Data Coverage % 100).
The Morningstar Medalist Rating™ for the Resolution Capital Global Property Securities Fund (Unhedged) - Series II is ‘Silver’ as of 25 July 2024. (Analyst-Driven % 100, Data Coverage % 100).
The Resolution Capital Global Listed Infrastructure Fund – Class B (Hedged) received a Morningstar Medalist Rating of Gold on 31.01.2025

 

© 2025 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its affiliates or content providers; (2) may not be copied, adapted or distributed; (3) is not warranted to be accurate, complete or timely and 4) has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892), subsidiary of Morningstar. Neither Morningstar nor its content providers are responsible for any damages arising from the use and distribution of this information. Past performance is no guarantee of future results. Any general advice has been provided without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide at 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. Morningstar’s publications, ratings and products should be viewed as an additional investment resource, not as your sole source of information. Morningstar’s full research reports are the source of any Morningstar Ratings and are available from Morningstar or your adviser. To obtain advice tailored to your situation, contact a financial adviser. Some material is copyright and published under license from ASX Operations Pty Ltd ACN 004523782.

2Zenith Disclaimer:

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (Resolution Capital Global Property Securities Fund – Active ETF, Resolution Capital Global Property Securities Fund – Series II, Resolution Capital Global Property Securities Fund (Unhedged) – Series II, Resolution Capital Real Assets Fund assigned July 2024, and Resolution Capital Global Listed Infrastructure Fund assigned April 2025) 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 10/2024 Resolution Capital Global Property Securities Fund – Active ETF, 10/2024 Resolution Capital Global Property Securities Fund (Unhedged) - Series II, 10/2024 Resolution Capital Global Property Securities Fund - Series II, 10/2024 Resolution Capital Real Assets Fund and 10/2024 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.