General Information

Abacus Fern Bay
Closed
Abacus Funds Management Limited
ABA0009AU
Unlisted and Direct Property
Not Rated
Investment Fund
27 May 2008
$7.7 million (as at 31 Oct 2010)
n/a
$0.84 (as at 31 Oct 2010)

Fund performance (30 Sep 2010)

NOTE : returns for periods greater than 1 year are annualised
  1 Month % 3 Month % 6 Month % 1 Year % p.a. 2 Year % p.a. 3 Year % p.a. 5 Year % p.a. 10 Year % p.a.
Total return -1.53 0.05 2.47 7.57 0.21 - - -
Growth return -2.33 -2.33 -2.33 -2.33 -8.35 - - -
Income return 0.8 2.38 4.8 9.9 8.56 - - -

Market index (S&P/ASX 200 A-REIT TR)

Total return 2.25 4.08 -2.09 7.91 6.98 10.61 12.35 -0.02
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Fund Performance Comparison

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Asset Allocation (30 Sep 2010)

Australian Equities 0%
International Equities 0%
Cash 0%
Property 100%
Fixed Interest 0%
Alternatives 0%
Asset Allocation

Objectives and Strategy

The Fund owns and operates Bayway Village, which has been designed primarily for seniors and retirees. There are 450 tenancies, with a capacity for 478 and conditional development consent to increase to 595 tenancies. The rent received, along with development fees received from the expansion of available sites, underpins the funds distributions and future capital growth.
Abacus has established this Fund as it believes that the Village offers investors an attractive running yield with good prospects for capital growth through appreciation in value of the underlying land which comprises 26 ha of coastal land in the Upper Hunter Region of NSW. The Village currently is only developed to 80% of its full potential, with further development this should facilitate capital growth with the objective of growing the Village to 90 - 95% occupancy of its expanded capacity.

Offer information

Standard entry fee 4.50%
Indirect Cost Ratio (ICR) 3.17% (as at 30 Jun 2009)
Minimum initial investment $10,000.00

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