Core Property has reviewed the Elanor Property Income Fund, an open ended, unlisted property fund that invests in a diversified portfolio of properties across Australia. The Fund is managed by Elanor Funds Management, which is part of Elanor Investors Group (ASX: ENN), an ASX-listed fund manager with over $2.9 billion of funds under management.
The Fund has an investment strategy that focusses on delivering a stable monthly income with the potential for capital growth. The investment portfolio includes 4 retail properties in central locations in regional areas with key anchor tenants Big W, Coles, Target, Woolworths and IGA representing 65% of the gross lettable area. Over time, the Manager intends to further diversify the Fund across other property sectors.
The Manager is currently targeting a distribution yield of 5.5% - 6.0% p.a. in FY23.
The Fund is open ended and investors may purchase units based on the monthly unit price. Redemptions are offered on a quarterly basis as well as every five years. The Fund has a minimum investment of $10,000.
Core Property has rated the Fund as RECOMMENDED.