Dexus Core Property Fund

A diversified solution for real estate exposure


Dexus Core Property Fund (DCPF) is a single-fund solution that is diversified across a strategic mix of unlisted and listed real estate. It combines a core portfolio of high-quality Australian unlisted real estate with an 
actively managed Australasian and global listed real estate portfolio. DCPF is designed to deliver income and capital growth, while mitigating risk through the diversification of real estate investment types and generating a better risk/return profile over the long term. 

The fund has target asset allocations of 50% to Australasian and US unlisted real estate and 50% to Australasian and global listed real estate1.

This fund is suitable for Financial Advisers and Direct Investors. 

Institutional grade core assets


Access to quality institutional-grade assets that are typically difficult for individual retail investors to obtain.

 

Integrated management model


Leveraging the diversity and experience of Dexus's real estate business to drive investment outcomes.

 

Strong focus on diversification


A mix of unlisted and listed real estate, locally and overseas, providing access to a range of regions and sectors.

Strategic mix

This diagram shows how the Dexus Core Property Fund provides access to a strategic mix of global unlisted and listed real estate.

These are a selection of assets held by the underlying funds in which DCPF invests.

  • Who is the fund suitable for?

    Investors who are:

    • seeking efficient and diversified exposure to real estate

    • looking for an investment that seeks to deliver income and capital growth in a stable way

    • wanting to hedge against inflation in their portfolio

  • Description of target market for this fund

    This product is likely to be appropriate for a consumer seeking capital growth and regular income to be used as a small allocation within a portfolio where the consumer has a medium-to-long investment timeframe and a medium-to-high risk/return profile. 

  • Withdrawal frequency

    Withdrawal requests are generally processed monthly according to specified withdrawal dates. We aim to process the payment of withdrawal requests within 10 business days of each specified withdrawal date, but may take longer in certain circumstances as is allowed under the fund constitution, or where the fund is considered to be illiquid under the Corporations Act. The Funds available for withdrawals are limited and payment amounts will be scaled back where withdrawal requests exceed the available funds for the relevant month.

  • Risk profile

    The fund may be suitable for a consumer with a moderate-to-high risk profile, seeking to minimise potential losses (e.g., has the ability to bear up to four negative returns over a 20-year period (SRM 5)) and is comfortable with a moderate-to-high target return profile.

What are the risks?

All investing involves risk, and you should consider investment risks and read the Product Disclosure Statement before making an investment decision. The risks specific to the fund may include or be associated with:

  • Liquidity: assets subject to liquidity risk may be difficult to trade, and it may take longer for their full value to be realised. A drop in the liquidity level of the Fund increases the risk that the amount of cash available to the Fund to meet withdrawal requests may be reduced. This could result in the part or non-payment of withdrawal amounts, a reduction in the frequency of withdrawals or a freeze on withdrawal requests.

  • Property investments: factors that may affect the performance of the Fund, include the quality of underlying properties, geographic location, costs and losses associated with natural disasters, or other events outside our control, demand and supply for commercial properties, the rental profile of the properties owned and the level of rental income.

  • Share market investments: the value of the Fund’s investment in listed securities may decrease or be more volatile as a result of adverse share market movements.

  • International investments: including losses related to currency exchange rates, hedging, and changes in the state of the Australian and world economies.

  • Derivatives: the use of derivatives may magnify any losses incurred.

  • Gearing: gearing has the effect of magnifying a fund’s returns, both positive and negative which means that the risk of loss of capital may be greater than if gearing did not take place. Additionally, increases in interest rates may affect the cost of a fund’s borrowings and so reduce the fund’s returns.

  • Interest rates: including the risk of capital loss in a rising interest rate environment.

  • Investment management: there is a risk that the investment manager will not perform to expectation or factors such as changes to the investment team or a change of investment manager may affect the Fund’s performance.

  • Market risk: Certain events may have a negative effect on the price of all types of investments within a particular market These events include economic, social, technological or political conditions, as well as market sentiment, the causes of which may include changes in government policies, political unrest, wars, terrorism, pandemics and natural, nuclear and environmental disasters.

Product marketing name
Dexus Core Property
Fund - Off-platform Class H

APIR code
AMP1074AU

Investment objective
To generate income and capital growth
on a rolling three year basis by investing
in Australasian and US unlisted real estate and
Australasian and global listed real estate

Minimum suggested timeframe
5 years

Distribution frequency
Quarterly

Product inception date
12 Apr 2006

Minimum investment
$10,000

Risk level (1-7)
5

Product status
Open

The fund's risk level is based on the estimated number of negative annual returns for the fund over any 20 year period and is not a complete assessment of the risks of investing in the fund. For instance it does not detail what the size of a negative return could be or the potential for a positive return to be less than an investor may require to meet their objectives. Consequently, before choosing to invest or reinvest in the fund, you should read the fund's PDS and incorporated information and consider factors such as the likely investment return, the risks of investing and your investment time frame. 

Unit Prices

As at 23 Feb 2024

1.00298

Buy

1.00137

Sell

AMP1074AU

APIR code

$10,000

Minimum investment

Buy/Sell Spreads

0.08%

Buy

0.08%

Sell

Performance

As at 31 Dec 2023

1 Month

1.69%

3 Month

2.80%

6 Month

1.09%

1 Year

-8.49%

3 Year

0.26%

5 Year

1.39%

Past performance is not a reliable indicator of future performance.

Product marketing name
Dexus Core Property
Fund - On-platform Class A

APIR Code
AMP1015AU

Investment objective
To generate income and capital growth
on a rolling 3 year basis by investing in Australasian
and US unlisted real estate and Australasian
and global listed real estate.

Minimum suggested timeframe
5 years

Distribution frequency
Quarterly

Product inception date
01 Jul 2005

Risk level (1-7)
5

The fund's risk level is based on the estimated number of negative annual returns for the fund over any 20 year period and is not a complete assessment of the risks of investing in the fund. For instance it does not detail what the size of a negative return could be or the potential for a positive return to be less than an investor may require to meet their objectives. Consequently, before choosing to invest or reinvest in the fund, you should read the fund's PDS and incorporated information and consider factors such as the likely investment return, the risks of investing and your investment timeframe.


Unit Prices

As at 23 Feb 2024

1.11340

Buy

1.11162

Sell

AMP1015AU

APIR code

Buy/Sell Spreads

0.08%

Buy

0.08%

Sell

Performance

As at 31 Dec 2023

1 Month

1.72%

3 Month

2.90%

6 Month

1.28%

1 Year

-8.16%

3 Year

0.61%

5 Year

1.74%

Past performance is not a reliable indicator of future performance.

  • Important note: The unit prices displayed in this section are indicative only

    The unit price is determined under the Fund's constitution by reference to the net asset value and transaction costs pertaining to the relevant class of units, and the number of units on issue in that unit class. 


    The market value and net asset value of the Fund are normally determined at least each Business Day, using the market prices and unit prices of the assets in which the Fund is invested. The definition of a Business Day is contained in the Fund’s Product Disclosure Statement.


    If unit prices are not available for today then the latest available prices will be displayed. 


    The Responsible Entity may exercise certain discretions in determining the price of units in the Fund. The Unit Pricing Discretions Policy sets out the types of discretions that the Responsible Entity may exercise and in what circumstances the Responsible Entity exercises the discretions and the reasons why it considers the policies are reasonable. The Responsible Entity is required to keep a record of any instance where a discretion is exercised in a way that departs from these policies.


    The Unit Pricing Discretions Policy can be obtained by clicking on this link or a copy can be obtained, free of charge, by contacting us. 


    Unit Pricing Discretions Policy


    Unit prices are provided for your information only and are not guaranteed. They are based on historical data and you should not rely on the above information as the basis for making any investment, financial or other decision as past unit prices are not a reliable indicator of future unit prices.


    During the time it takes to process an application or redemption application, the unit price may vary and the actual unit prices applying to applications and redemptions may differ from those displayed in this section. Actual unit prices can be confirmed on receipt of a completed application or redemption form.


    Dexus Funds Management Limited (ABN 24 060 920 783, AFSL 238163) nor any company within the Dexus Group makes any representation or warranty as to the reliability, completeness or accuracy of the unit price information or accepts any responsibility arising in any way (including by reason of negligence) for errors in or omissions from the unit price information.


    The information in this section is not an offer or recommendation of securities or other financial products offered by the Dexus Group and is not an invitation to take up securities or other financial products. Investors should consider the relevant PDS available from us for the relevant fund before making any decision regarding the product.

  • Important note: Past Performance
    Past performance is not a reliable indicator of future performance.


    Performance is annualised for periods greater than one year. Total returns are calculated using the unit price which uses the net asset values for the relevant month end. This price may differ from the actual unit price for an investor applying for or redeeming an investment. Actual unit prices will be confirmed following any transaction by an investor. Returns quoted are before tax, after fees and costs, and assume all distributions are reinvested.

1. Actual asset allocations of the Fund may differ from the targets and will be affected by the availability and volume of suitable unlisted real estate investment opportunities and the level of applications in and redemptions from the Fund.

Important information:

This website has been prepared and issued by Dexus Funds Management Limited (ABN 24 060 920 783, AFSL 238163) as the investment manager of the Dexus Core Property Fund. The Trust Company (RE Services) Limited (ABN 45 003 278 831, AFSL 235150) is the responsible entity of the Fund and the issuer of units in the Fund. The PDS contains important information about investing in the Fund and it is important investors read the PDS before making a decision about whether to acquire, continue to hold or dispose of units in the Fund. None of the responsible entity, Dexus or any other company in the Dexus group guarantees the repayment of capital or the performance of any product or any particular rate of return referred to in this document. Past performance is not a reliable indicator of future performance. All information on this website is subject to change without notice. While every care has been taken in the preparation of this information contained in this website, to the extent permitted by law, the responsible entity, Dexus and each of their related body corporates and their respective director, officers and employees, do not make any representation, express or implied, as to the accuracy, currency, reliability or completeness of any statement in it including without limitation, any forecasts. This content has been prepared for the purpose of providing general information only, without taking account of any particular investor’s objectives, financial situation or needs. Investors should, before making any investment decisions, consider the appropriateness of the information on this website, and seek professional advice, having regard to their objectives, financial situation and needs. The information contained on this website should not be considered to be comprehensive or to comprise all the information which a potential investor may require in order to determine whether to invest in the Fund. This content is not intended for distribution or use in any jurisdiction where it would be contrary to applicable laws, regulations or directives and does not constitute a recommendation, offer, solicitation or invitation to invest. The PDS and a target market determination has been made in respect of the Fund and is available at www.dexus.com/dcpfinvest.

The Lonsec Rating (assigned May 2023) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421445. The Rating is a “class service” (as defined in the Financial Advisers Act 2008 (NZ)) or is limited to “General Advice” (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial product(s). In New Zealand it must only be provided to “wholesale clients” (as defined in the Financial Advisers Act 2008 (NZ)). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold Dexus product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria. For further information regard Lonsec’s Ratings methodology, please refer to www.lonsecresearch.com.au/research-solutions/our-ratings

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned AMP1015AU issued on 13 December 2023) 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 https://www.zenithpartners.com.au/our-solutions/investment-research/fund-research-regulatory-guidelines/.

The Zenith Fund Awards were issued 11 October 2019 by Zenith Investment Partners (ABN 27 130 132 672, AFSL 226872) and are determined using proprietary methodologies. The Fund Awards are solely statements of opinion and do not represent recommendations to purchase, hold or sell any securities or make any other investment decisions. To the extent that the Fund Awards constitutes advice, it is General Advice for Wholesale clients only without taking into account the considerations of the objectives, financial situation or needs of any specific person. Investors should seek their own independent financial advice before making any investment decision and should consider the appropriateness of advice. Investors should obtain a copy of and consider any relevant PDS or offer documents before making any investment decisions. Past performance is not an indication of future performance. Fund Awards are current for 12 months from the date awarded and are subject to change at any time. Fund Awards for previous years are referenced for historical purposes only. 

Back to top