Current unit price (20 min delayed price):

ASX.QRI
1.625 ⌃ $0.005

NAV as at end of:

Aug 2019
$1.6002

The Qualitas Real Estate Income Fund (Trust or QRI) seeks to provide monthly income, capital preservation and diversification by investing in a portfolio of real estate loans secured by first and second mortgages, predominantly located in Australia.1

TRUST BENEFITS

Targeted stable monthly cash income

Target Return of 8.0% pa (net of fees and expenses) and monthly cash distributions.1

 

Access to a portfolio of commercial real estate loans 

Portfolio diversified by borrower, loan type, property sector and geography.

 

Capital preservation focus

Loans secured by first and second mortgages on properties. 

Disciplined and experienced Manager 

Qualitas Group has an 11-year track record with strong risk-adjusted returns.2

 

Strong investor alignment

50% reduction in management fee on new capital raised, until invested.3

 

Quality risk management and governance

Selective investment filtering and due diligence process; institutional-grade governance. 

 

By ticking this box you agree that you are not acting for the account or benefit of a person in the United States and will not distribute a copy of the PDS accessed through this page to any person in the United States. You also confirm you have read the PDS Acknowledgement below.

THE OFFER

The Responsible Entity invites Eligible Unitholders to participate in the Entitlement Offer pursuant to which the Responsible Entity is seeking to raise up to approximately $266 million (Offer Proceeds) at an Offer Price of $1.60 per New Unit by issuing a maximum of approximately 166 million New Units.

The Entitlement Offer is an accelerated non-renounceable pro rata offer of New Units to existing Wholesale Unitholders and eligible Retail Unitholders as at the Record Date for the Entitlement Offer (Eligible Unitholders). Eligible Unitholders are invited to apply for 1 New Unit for every 1 existing Unit held as at the Record Date, being 7:00pm (AEST) on Friday, 13 September 2019. Eligible Unitholders who apply for their Entitlement in full under the Entitlement Offer may also apply for Additional New Units in excess of their Entitlement under the Oversubscription Facility. The issue of Additional New Units to Eligible Unitholders is subject to availability and pro rata scaleback by the Directors.

Any New Units that are not applied for by eligible Wholesale Unitholders under the Entitlement Offer may be offered to new wholesale investors during the Wholesale Entitlement Offer Period at the absolute discretion of the Directors (Wholesale Shortfall). Any New Units that are not applied for by eligible Retail Unitholders or by new wholesale investors under the Wholesale Shortfall (including by way of the Oversubscription Facility) may be offered and issued to new investors at the absolute discretion of the Directors after the Retail Entitlement Offer Closing Date (Shortfall Offer). You should refer to Section 2.10 of the Product Disclosure Statement  (PDS) for further information in relation to the Shortfall Offer

For information in relation to the Trust’s proposed use of the Offer Proceeds, you should read Section 2.4 and also Section 2.21 of the PDS (which sets out the fees and other costs associated with the Entitlement Offer).

We encourage you to read the PDS carefully as it contains detailed information about the Trust and the offer of Units. Full details of the Offer are available in the PDS.

The Manager is committed to ensuring an alignment of interests between the Manager, the Trust and the Unitholders. In this regard, the Manager will look to support the Trust as it progressively invests the additional capital raised under the Offer and has agreed with the Responsible Entity to a 50% waiver of its Management Fee on the uninvested portion of new capital raised under this Entitlement Offer.4

The Manager believes that sharing in the risks associated with the progressive deployment profile of the Trust’s underlying asset class is an important commitment to demonstrate alignment and allow the Trust to grow to be of sufficient scale.

Offer Key Dates

Lodgement of PDS with ASIC 11 September 2019
Wholesale Entitlement Offer Opens 11 September 2019
Wholesale Entitlement Offer Closes 12 September 2019
Results of Wholesale Entitlement Offer announced 13 September 2019
Early Retail Entitlement Offer Opens 16 September 2019
Retail Entitlement Offer Opens 16 September 2019
Early Retail Entitlement Offer Closes 20 September 2019
Retail Entitlement Offer Closes 8 October 2019
Announcement of Shortfall 11 October 2019
Results of Retail Entitlement Offer announced 17 October 2019

How to invest

Only Eligible Unitholders will be eligible to participate in the Entitlement Offer.

Wholesale Entitlement Offer

Eligible Wholesale Unitholders will be informed by the Joint Lead Managers or the Manager as applicable, the details of their Entitlements and how to apply under the Wholesale Entitlement Offer at the commencement of the Wholesale Entitlement Offer Period.

Retail Entitlement Offer

All other Eligible Unitholders who are not Eligible Wholesale Unitholders are Eligible Retail Unitholders. Eligible Retail Unitholders will be emailed or mailed a PDS in accordance with existing communication preferences on Monday, 16 September 2019 accompanied by a personalised Entitlement and Acceptance Form.

Shortfall Offer

You must have received an invitation to participate in the Shortfall Offer from your Broker or the Manager. The Shortfall Offer is not open to persons in the United States.

If you have received an invitation to participate in the Shortfall Offer from your Broker or the Manager and wish to apply for New Units under the Shortfall Offer, you should contact your Broker or the Manager for information on how to complete and lodge your Shortfall Offer Application.

BEFORE DOWNLOADING, PRINTING OR VIEWING THE PRODUCT DISCLOSURE STATEMENT, YOU MUST CAREFULLY READ THE TERMS SET OUT IN THIS NOTICE.

Terms

The Product Disclosure Statement  (PDS) is an important document that should be read in its entirety before deciding whether to participate in the Entitlement Offer (as referred to below and set out in the PDS). If after reading the PDS, you have questions about the Entitlement Offer, you should contact your stockbroker, accountant or other professional adviser.

1 This is a targeted return only. There is no guarantee the Trust will meet its Investment Objective. The payment of monthly cash income is a goal of the Trust only.
2 Past performance is not a reliable indicator of future performance. This is not a forecast. This is not an indication of the Trust’s returns.

3 Under the terms of its agreement with the Responsible Entity, the Manager will charge a reduced Management Fee of 0.75% p.a. (exclusive of GST) (from 1.5375% p.a. to 0.7688% p.a.) inclusive of GST, less RITC.  Reduction in the Management Fee applies to uninvested capital represented by New Units issued under the Offer (including any Additional New Units), less the amount that has been committed and invested since the relevant date of Allotment of New Units (and any Additional New Units, if applicable). Reduction in the Management Fee to apply until such time that 95% of the capital raised under the Entitlement Offer has been invested.

 

By ticking this box you agree that you are not acting for the account or benefit of a person in the United States and will not distribute a copy of the PDS accessed through this page to any person in the United States. You also confirm you have read the PDS Acknowledgement below.

This Product Assessment is for investment professionals only. I confirm that I hold an Australian Financial Services License or I am an Authorised Representative.

ACKNOWLEDGEMENT

The information on this website is provided for information purposes only and is subject to change without notice. Nothing contained on this website or in the PDS constitutes investment, legal, business, taxation or other advice. The information on this website and in the PDS does not take into account your investment objectives, financial situation or particular needs.

By clicking the ‘I CONFIRM’ button and accessing the PDS on this website, you represent, warrant and agree that:

  1. you are a resident of Australia accessing this website from within Australia or New Zealand;
  2. you are 18 years of age or over;
  3. you are not a resident of the United States nor currently located in the United States;
  4. you are not acting for the account nor benefit of a person in the United States or any other foreign person;
  5. you will not make a copy of the PDS available to, or release or distribute a copy of the PDS to, or for the account or benefit of, any person in the United States or in any other place in which, or to any other person to whom, it would be unlawful to do so (Ineligible Persons); and
  6. you are not acting as a nominee for, or otherwise for the account or benefit of, any Ineligible Persons.

INSIGHTS

This website is issued by The Trust Company (RE Services) Limited ABN 45 003 278 831 AFSL 235 150 (Perpetual) as responsible entity of the Qualitas Real Estate Income Fund ARSN 627 917 971 (Trust).  This website is prepared by QRI Manager Pty Ltd ACN 625 857 070 (Manager) as the investment manager of the Trust.  QRI is a wholly owned member of the Qualitas Group and is an authorised representative of the Qualitas Securities Pty Ltd AFSL 342 242.

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. Units in the Trust will be issued pursuant to a Product Disclosure Statement (PDS) dated 8 October 2018. Before making an investment decision, you should consider the current PDS of the Trust and assess 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.

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