ASX ANNOUNCEMENT: ASX:QRI Quarterly Update – December 2022

3 February 2023

The Qualitas Real Estate Income Fund (ASX:QRI) December 2022 quarterly update is now available. You can view the latest QRI portfolio update in the ASX announcement.

In the quarterly update, Mark Power (Head of Income Credit) and Samantha Khalid (Director, Real Estate Finance) discuss the current market dynamics for commercial real estate (CRE) credit as well as answer some frequently asked questions from investors on QRI.

 

|   Questions asked

  • 0:22 – How are you seeing the year ahead for fixed income products like QRI?
  • 1:17 – Which investors is QRI for?
  • 1:31 – What are the key objectives of QRI and how are you tracking against these?
  • 4:02 – What are the key success factors that you see?
  • 5:29 – What are the key risks for the portfolio and how are you managing these risks?
  • 9:12 – What would it take for the portfolio to be impaired?
  • 11:30 – What are the opportunities you’re seeing for QRI across 2023?

 

|   Highlights

  • Attractive annualised quarterly distribution return of 7.33% over the quarter to December 2022 calculated on NTA of $1.60.
  • As of 31 December 2022, the Trust’s capital is fully invested.
  • $50m warehouse facility established in December 2022 to optimise deployment profile and maintain a fully invested portfolio.
  • Variable rate exposure increased from 67% in September 2022 to 79% in December 2022. This change partially contributed to the increases in annualised distribution from 6.85% in September 2022 to 7.65% in December 2022.
  • In December 2022, QRI received an upgraded rating from BondAdviser to ‘Recommended’.
  • Strong credit quality continues with no impairments or interest arrears as at 31 December 2022.

 

Disclaimer:

This communication has been issued and authorised for release by The Trust Company (RE Services) Limited (ACN 003 278 831) (AFSL 235150) as responsible entity of The Qualitas Real Estate Income Fund (ARSN 627 917 971) (“Trust”) and has been prepared by QRI Manager Pty Ltd (ACN 625 857 070) (AFS Representative 1266996 as authorised representative of Qualitas Securities Pty Ltd (ACN 136 451 128) (AFSL 34224)).

This communication contains general information only and does not take into account your investment objectives, financial situation or needs. It does not constitute financial, tax or legal advice, nor is it an offer, invitation or recommendation to subscribe or purchase a unit in QRI or any other financial product. Before making an investment decision, you should consider whether the Trust 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.

While every effort has been made to ensure the information in this communication is accurate; its accuracy, reliability or completeness is not guaranteed and none of The Trust Company (RE Services) Limited (ACN 003 278 831), QRI Manager Pty Ltd (ACN 625 857 070), Qualitas Securities Pty Ltd (ACN 136 451 128) or any of their related entities or their respective directors or officers are liable to you in respect of this communication. Past performance is not a reliable indicator of future performance.

The Product Disclosure Statement (“PDS”) and a target market determination for units in the Trust can be obtained by visiting the Trust website www.qualitas.com.au/qri. The Trust Company (RE Services) Limited as responsible entity of the Trust is the issuer of units in the Trust. A person should consider the PDS in deciding whether to acquire, or to continue to hold, units in the Trust.