Property Fund

Tahua Āhuatanga

The Property Fund provides diversified exposure to directly held commercial properties located in New Zealand. The Property Fund applies certain ethical investment criteria on the acquisition and management of properties.

Key Features

Direct exposure to New Zealand commercial property
Ethical screening of tenant industries
Diversified across predominantly industrial and large-format retail assets
Actively managed by Trust Management
No leverage or borrowing for investment purposes
No exposure to development risk
Certified net carbon zero for landlord-controlled emissions

Suitable For

Investors seeking reliable, inflation-aligned income
Long-term investors (5+ years)
Those wanting access to commercial property without requiring scale
Investors with an interest in ethical and responsible investing
Those comfortable with lower liquidity
Investors looking for long-term capital growth

Total Properties

Number of Tenants

Contract Rent Yield

6.18%

Market Rent Yield

6.48%

Total Occupancy (by area)

98.8%

Total Occupancy (by rental)

98%

WALT

4.55 years

All figures correct as at 31 March 2025

Objective

To provide income returns to investors and capital gains over the medium to long term, ahead of the rate of inflation.

Latest Fund Performance

6.8%

1 year

2.1%

3 months

As at 30 September 2025

Latest Unit Price (NAV)

1.4948

As at 30 September 2025

Fund Value

NZD
$273,859,209

Risk Level

Medium

Estimated Annual Fund Charges

0.86%

Minimum Suggested Timeframe

5 years

how to invest

Figures correct as at 30 September 2025.

Returns are before fees, expenses and taxes and annualised for periods longer than one year. Past performance is not indicative of future performance and is not guaranteed by Trust Management, the Supervisor or the underlying Investment Managers. Performance calculations for the Funds comprise the returns for the Trust Investments Group Investment Funds up to and including 31 March 2020 and for the Trust Management PIE Funds Scheme from 1 April 2020.

FundRock NZ Limited is the manager and issuer of the Trust Management PIE Funds Scheme. The product disclosure statement is available from FundRock www.fundrock.com/fundrock-new-zealand/frnz-documents-and-reporting or by going to https://disclose-register.companiesoffice.govt.nz/ Past performance is not necessarily indicative of future performance, and you may not recover the full amount of your investment.

Scheme Documents

Product Disclosure Statement (PDS) | October 2025

Statement of Investment Policy Objectives (SIPO) | October 2025

Other Material Information (OMI) | October 2025

Ethical Investment Policy | October 2025

Form | New Investor - Entity

Form | Additional Investment

Form | Transfer Request

Form | Withdrawal Request

Ethical Investment Documents

Tuhinga Haunga Matatika