Pengana High Conviction Property Securities A - Managed Fund

Fund Objective

The Fund's investment objective is to obtain returns greater than the S&P/ASX 300 A-REIT (AUD) TR Index ('Index') over rolling 3 year periods after fees.

Fund Strategy

The Pengana High Conviction Property Securities Fund is Australia's only high conviction AREIT fund with an ESG focus. The investment team believes each security has an underlying or intrinsic value and that securities become mispriced at times relative to their value and each other. It seeks to exploit such market inefficiencies by employing an active, value based investment style to capture the underlying cashflows generated from real estate assets and/or real estate businesses.

Fund Performance Comparison

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Peers

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The performance of the peers is calculated as the total of the performance for each time period for all the funds in the peer group, divided by the number of funds in the peer group.

Fund performance

	1M	3M	6M	1Y p.a.	2Y p.a.	3Y p.a.	5Y p.a.	10Y p.a.
Total return	2.01%	2.83%	15.96%	10.33%	28.2%	18.19%	11.33%	-%
Growth return	2.01%	2.06%	2.07%	-4.35%	17%	9.78%	4.06%	-%
Income return	0%	0.77%	13.89%	14.68%	11.2%	8.41%	7.27%	-%
Market index (S&P/ASX 200 A-REIT TR)
Total return	0.58%	1.83%	12.45%	7.4%	27.85%	16.36%	12.12%	8.23%

As at 31 Oct 2025. Returns for periods greater than 1 year are annualised. All figures are percentages.

General Information

Fund Details

Type	Description
Fund Name	Pengana High Conviction Property Securities A
Responsible Entity	Pengana Capital Limited
APIR Code	PCL8246AU
Sector/Asset Class	Equity Australia Real Estate
Morningstar Rating	(as at 31 Oct 2025)
Legal Structure	Investment Fund
Fund Inception	2 Mar 2020
Fund Size	$36.24 million (as at 31 Oct 2025)
Entry Price	$1.2435 (as at 20 Nov 2025)
Exit Price	$1.2373 (as at 20 Nov 2025)
Fund Status	Open

Offer information

Type	Description
MER	0.71% (as at 27 Feb 2025)
Indirect Cost Ratio (ICR)	0.70% (as at 30 Jun 2024)
Performance fee (not included in ICR)	Not Available
Minimum initial investment	$10,000.00
Minimum additional investments	$5,000.00

Top 10 holdings (as at 31 Jul 2025)

Holding (as at 31 Jul 2025)	Type	% of Portfolio
Goodman Group	Equity - REIT	43.28%
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FAQs about the Pengana High Conviction Property Securities A

What is the objective of the Pengana High Conviction Property Securities A managed fund?

The objective of the Pengana High Conviction Property Securities A managed fund is The Fund's investment objective is to obtain returns greater than the S&P/ASX 300 A-REIT (AUD) TR Index ('Index') over rolling 3 year periods after fees.

What is the strategy for the Pengana High Conviction Property Securities A managed fund?

The strategy of the Pengana High Conviction Property Securities A managed fund is The Pengana High Conviction Property Securities Fund is Australia's only high conviction AREIT fund with an ESG focus. The investment team believes each security has an underlying or intrinsic value and that securities become mispriced at times relative to their value and each other. It seeks to exploit such market inefficiencies by employing an active, value based investment style to capture the underlying cashflows generated from real estate assets and/or real estate businesses.

What is the APIR code of the Pengana High Conviction Property Securities A managed fund?

The APIR code of the Pengana High Conviction Property Securities A managed fund is PCL8246AU.

What was Pengana High Conviction Property Securities A’s total return last month?

Pengana High Conviction Property Securities A’s total return last month was 2.01%. This was made up of a growth return of 2.01% and an income return of 0%. These returns were calculated as at 31 Oct 2025.

What was Pengana High Conviction Property Securities A’s total return for the last three months?

Pengana High Conviction Property Securities A’s total return for the last three months was 2.83%. This was made up of a growth return of 2.06% and an income return of 0.77%%. These returns were calculated as at 31 Oct 2025.

What is Pengana High Conviction Property Securities A’s one-year total return?

Pengana High Conviction Property Securities A’s one-year total return is 10.33%. This was made up of a growth return of -4.35% and an income return of 14.68%. These returns were calculated as at 31 Oct 2025.

What is Pengana High Conviction Property Securities A’s three-year total return?

Pengana High Conviction Property Securities A’s one-year total return is 18.19%. This was made up of a growth return of 9.78% and an income return of 8.41%. These returns were calculated as at 31 Oct 2025.

What is the asset allocation of the Pengana High Conviction Property Securities A managed fund?

The asset allocation of the Pengana High Conviction Property Securities A managed fund is :

Australian Equities: 96.43%

Cash: 3.57%

International Equities: 0%

Property & Infrastructure: 0%

Fixed Interest: 0%

Alternatives: 0%

Who is the responsible Entity of the Pengana High Conviction Property Securities A managed fund?

The Responsible Entity for the Pengana High Conviction Property Securities A managed fund is Pengana Capital Limited.

What sector/asset class does the Pengana High Conviction Property Securities A managed fund belong to?

The Pengana High Conviction Property Securities A managed fund belongs to the Equity Australia Real Estate sector/asset class.

What is the size of the Pengana High Conviction Property Securities A managed fund?

As at 31 Oct 2025, the size of the Pengana High Conviction Property Securities A managed fund was $36.24 million.

What is the inception date of the Pengana High Conviction Property Securities A managed fund?

The Pengana High Conviction Property Securities A managed fund has an inception date of 2 Mar 2020.

What is the current entry price of the Pengana High Conviction Property Securities A managed fund?

The current entry price of the Pengana High Conviction Property Securities A managed fund is $1.2435 per unit and the current exit price is $1.2373 per unit (as at 20 Nov 2025).

What is the current exit price of the Pengana High Conviction Property Securities A managed fund?

The current exit price of the Pengana High Conviction Property Securities A managed fund is $1.2373 per unit and the current entry price is $1.2435 per unit (as at 20 Nov 2025).

What is the minimum investment amount for the Pengana High Conviction Property Securities A managed fund?

The minimum initial investment amount for the Pengana High Conviction Property Securities A managed fund is $10,000. Minimum additional investment is $5000.

Fund data sourced from Morningstar. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). Data and content is provided for personal use only. Whilst every care has been taken in producing these numbers, neither Morningstar nor InvestSMART can make any guarantees around the complete accuracy of these figures. Should you decide to change investments, please read all relevant disclosure documents including the Product Disclosure Statements and if required, you may consider speaking to a financial professional for further guidance. A tax event may be realised as a result of switching investments. Past performance is not a reliable indicator of future performance.

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