The Trust Company (RE Services) Limited as Responsible Entity for Qualitas Real Estate Income Fund (ASX: QRI) (QRI or Trust) and QRI Manager Pty Ltd (Manager), the manager of QRI, are pleased to provide QRI’s March 2022 quarterly update. To access the video presentation please click on the following link https://qualitas.com.au/asx-announcement-asxqri-quarterly-update-march-2022. The presentation slides are attached to this announcement.
In this quarterly update, Andrew Schwartz (Group Managing Director and Co-Founder) and Nick Bullick (Senior Director, Real Estate) discuss QRI’s performance and highlight the benefits of QRI as a hedge against rising interest rates and inflation.
Highlights
* QRI has delivered an attractive distribution return of 5.35% over the last 12 months (LTM) calculated on a LTM average NTA of $1.61
* Entitlement offer proceeds invested ahead of PDS forecasts, with Trust capital currently 88% invested and the current cash balance fully allocated to new investments
* Variable rate loans as at 31 March represent 31% of total portfolio, providing interest rate and inflation protection as any increase in the cash rate and/ or risk margins are passed through to the unitholder. This exposure is expected to increase significantly in the next 12 months as the portfolio is of short duration and the vast majority of new loans being written as variable rate meaning the funds interest rate charged to Borrowers will increase with widely expected rises in base interest rates
* Strong portfolio credit quality maintained, with no impairments or interest arrears experienced since IPO
* Net Asset Value (NAV) per unit of $1.60 at 31 March 2022
For more information, download the attached PDF.
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