Retail managed property funds

Retail managed funds pool investor money to invest in property or property related assets and are not traded on an exchange.

Key features:

• Bought and redeemed directly through the fund
• May invest in direct property, listed property securities, or a mix
• Priced periodically (not traded intraday)
• Liquidity depends on fund rules
• Require a Product Disclosure Statement (PDS)

Listed REITs (Real Estate Investment Trusts)

Listed REITs own income producing property and are traded on the ASX - like shares.

Key features:

• Invest directly in physical property assets
• Units are bought and sold on the stock exchange
• Prices move throughout the trading day
• Generally high liquidity
• Returns from property income and unit price movements

Property ETFs

Property ETFs are Exchange Traded Funds that track an index of listed property securities, often including REITs.

Key features:

• Do not own property directly
• Provide exposure to multiple listed REITs
• Traded on the ASX like shares
• Highly liquid and diversified
• Returns track the performance of the underlying index

Key differences at a glance

Ownership:
Managed funds = direct or indirect property
Listed REITs = direct property
Property ETFs = listed property securities

Trading:
Managed funds = off‑market
REITs & ETFs = on the ASX

Liquidity:
Managed funds = limited
REITs & ETFs = high