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In the below, ‘us’ or ‘our’ or 'management' refers to Australian Unity Funds Management Limited (AUFM) as the Responsible Entity of the Australian Unity Healthcare Property Trust (the Trust).
AUFM is a wholly owned subsidiary of Australian Unity Limited.
What is the size of the Trust?
Gross Assets were $3.4 billion as at 31 March 2025
What is the outlook for the Healthcare sector?
Please refer to the Trust’s latest update - click here
The Team recently held a webinar on the Trust - click here
Does the Trust have external product ratings?
Yes. The Trust currently holds the following product ratings:
Lonsec: Highly Recommended **
Zenith: Highly Recommended **
SQM: 4.75 stars **
Class A:
Product Disclosure Statement – click here
Target Market Determination – click here
Application form (Platforms only) - click here
Wholesale units:
Product Disclosure Statement – click here
Target Market Determination – click here
Application Form (Individuals) - click here
Application Form (SMSF) - click here
Application Form (Trust/Companies) - click here
Additional Application Form - click here
Will the Trust be available on platforms?
Australian Unity are working with various platforms to have the Trust made available for applications. Specific platform related queries may best be directed to your platform provider/IDPS operator.
Class A units were established in 2009 to facilitate investment into the Trust via investment platforms that are widely used by financial advisers and their clients.
On 15 April 2025, we are temporarily closing the Class A units of the Trust to new applications for 30 days following the announcement regarding changes to the withdrawal facility. It is important that unitholders have sufficient time to review these changes. This approach allows us to focus on investor communications and ensure that all stakeholders are well-informed.
What is the application process?
Applications for units are currently being accepted under the relevant PDS (there are separate PDS’s for Class A and Wholesale units). Applications for investment in the Trust can only be made using the Application Form.
Applications must be received by 3:00pm at our Melbourne office on a business day to be assessed for acceptance. We will notify you of the effective application price and allotment date when you receive your Confirmation of Investment statement.
Pending the issue of units to an investor, the application amount will be held in a trust account that complies with the Corporations Act.
No interest will be paid on application amounts for the period from receipt until the issue of units occurs. Similarly, no interest will be paid to any investor whose application (or part of an application) is returned by us unfilled. Any interest earned on the application amount during this period will be retained by the Trust and form part of its income for the benefit of investors.
The minimum initial investment amount for Wholesale Units is $5,000.
The minimum additional investment amount for Wholesale Units of $1,000.
You should contact your IDPS operator regarding details about the application process and minimum investment amounts for Class A Units.
Will I receive confirmation of my application?
Applications will be priced using the relevant application unit price for the date the application was accepted, and a confirmation statement will be issued to investors.
What is happening with withdrawals for Class A units of the Trust?
Effective 15 April 2025, AUFM reasonably expects that the withdrawal requests for Class A Units are likely to exceed the amount of Class A Units’ cash reserves. Due to these abnormal operating conditions, withdrawals will be processed on a quarterly basis.
Each month, we will carry out an assessment of the status of the Class A Units’ cash reserve to determine whether there are sufficient funds to satisfy the withdrawal requests. If there are sufficient funds to satisfy withdrawal requests monthly, this will occur.
Any withdrawal requests received from this point onward will be considered for processing during the next quarterly withdrawal facility and met from the general cash pool. The quarterly withdrawal requests are met on 28 February, 28 May, 28 August and 28 November each year.
Effective 15 April 2025, AUFM believes it is important that unitholders have sufficient time to review these changes and as a result we will be temporarily closing the Class A Units of the Trust to new applications for 30 days following this announcement. This approach allows us to focus on investor communications and ensure that all stakeholders are well-informed.
What has changed to the quarterly withdrawal amount available to be paid to unitholders?
To support the long-term stability of the Trust, to preserve capital, and act in the best interest of all unitholders, the amount available through the quarterly withdrawal facility will reduce to 1.25% of the net asset value of the relevant class of units on issue.
This change has been made in the best interests of all unitholders and will allow us to continue to provide liquidity while supporting the Trust to generate long-term value for all investors. The change to the quarterly withdrawal facility will remain in place until the Trust’s cash reserves are sufficient to consider increasing the withdrawal facility above 1.25%. In line with the PDS, the maximum (cap) withdrawal facility available for investors is 2.5%. The Continuous Disclosure Notice will provide up to date information about the applicable cap for each quarter.
What is the likelihood of pro-rata payments being required in the May 2025 withdrawal window?
The quarterly capped withdrawal facility is expected to be oversubscribed. If withdrawal requests exceed the amount available, withdrawals may be met on a pro-rata basis. Where a pro-rata payment occurs, you will need to reapply in a subsequent withdrawal period if you wish to withdraw any further amount. Quarterly withdrawals will be met from the Trust’s general cash pool.
Details relating to the level of oversubscriptions will be made available on our website following each quarterly withdrawal.
How do I request a withdrawal?
To request a withdrawal, please complete a Withdrawal Form. Your written request must be received by 3:00pm at our Melbourne office on or before the quarter end date, being:
28 February; 28 May; 28 August; 28 November;
Or the next Melbourne business day if the 28th is a non-business day.
This will enable you to receive the withdrawal price as at the 28th of that quarter end date. We will endeavour to make withdrawal payments within five days after the quarter end date.
For more information, please refer to our Making a Withdrawal guide.
Are there any provisions for full withdrawal requests on hardship or compassionate grounds?
Currently, the Trust does not have provisions for hardship or compassionate withdrawals. All withdrawal requests are processed uniformly under the quarterly withdrawal facility. However, if an investor’s balance falls below the minimum required balance of $5,000, we can process the withdrawal in full.
How often does the Trust pay a distribution?
Distributions are generally paid on a quarterly basis, being March, June, September and December within 15 business days of the end of each calendar quarter.
What are the options for receiving the distribution?
There are two payment options available:
Distribution Reinvestment.
Distribution paid directly to a bank account held at an Australian bank or financial institution.
What is a Distribution Reinvestment Plan?
The Distribution Reinvestment Plan is a convenient way for investors to increase their holding of units in the Trust, as it allows existing investors to automatically reinvest all or part of their distributions in additional units, without incurring transaction costs (there is no buy spread applied). This allows investors to accumulate more units over time and potentially benefit from compounding returns.
Participation in the Distribution Reinvestment Plan is voluntary, and investors may apply to participate, change their level of participation, or chose not to participate in the Distribution Reinvestment Plan.
The distribution reinvestment price is the net asset value per unit at the end of the distribution period (without any buy spread) less the amount of distribution payable per unit. This price is then discounted by the relevant percentage amount.
For Class A unitholders, should you wish to reinvest your distributions, please contact your IDPS operator regarding distribution reinvestment availability, requirements and timeframes.
What is the Distribution Reinvestment Plan discount?
We have increased the Distribution Reinvestment Plan discount available for investors from 1.50% to 5% for Wholesale, Retail and Class A units.
This means the distribution reinvestment price will be discounted by 5%.
Why is this being offered?
This is one of various initiatives being employed as part of the broader capital management strategy. A larger Distribution Reinvestment Plan discount has been offered as an incentive for investors to reinvest distributions.
How do I elect this option?
If you wish to reinvest your distributions, please nominate your preference in the Application Form, or for existing investors update your preference using the Change of Details form available from our website. Only investors with an Australian registered address may reinvest their distributions.
Change of details form - click here
Distribution Reinvestment Plan Example
If an investor had 10,000 units, the unit price was $2.50 and the distribution amount per unit was $0.025 per unit for the applicable quarter, then the cash distribution payable would be:
10,000 units x $0.025 = $250.00
Under a full election of the distribution re-investment, an investor would receive 106.3242 new units. This is calculated as follows:
$2.50 - $0.025 = $2.475 (unit price less distribution payable)
$2.475 x (100% - 5%) = $2.3513 (applying the 5% discount)
$250.00 / $2.3513 = 106.3242 units (distribution amount divided by distribution re-investment price)
What impact will the reported sale of Healthscope’s hospitals have on the Trust?
Given the ongoing media attention on the position of the Healthscope hospital portfolio, we would like to reassure investors about the position of the Australian Unity Healthcare Property Trust.
The Trust has no exposure to Healthscope.
When a portfolio of 11 Healthscope properties was made available for sale in 2022, our analysis found that acquisition of that portfolio would not be accretive to investor returns or otherwise fit with the Trust’s portfolio requirements.
The Trust continues to be invested in a geographically diversified portfolio of real estate assets with high quality tenants, average occupancy levels of 95 per cent and a weighted average lease expiry of 15.1 years (as at 31 December 2024).
The Trust is a long-term owner of hospital assets (and other healthcare assets) and continues to invest in critical community infrastructure that serves the healthcare needs of Australians.
We also note that above-market rents can cause distress to tenants. Our approach to rental agreements continues to be to strike a balance that supports our tenants’ long-term sustainability and success.
This approach seeks to maximise value for investors over the long-term.