Charter Hall Umbrella Fund
Unique Retail Investment Opportunity
Offer closed oversubscribed
Charter Hall Funds Management Limited was established in 1991 and has over $2.8 billion in funds under management. The Group has a solid track record in delivering above average property returns across the risk return spectrum, including commercial properties across the office, industrial and retail markets. They have a solid track record in delivering above average unlisted property fund returns across the risk return spectrum.
The Charter Hall Umbrella Fund provides investors with an unprecedented opportunity across Charter Hall’s range of property funds. The fund has a weighted average lease expiry of 10 years and provides exposure to over 40 quality properties in the office, industrial and retail markets.
Key features1
The Product Disclosure Statement states that investors should regard the Charter Hall Umbrella Fund units as a medium to long term investment and should consider the risk factors set out in Section 7 of the Product Disclosure Statement before investing.
Offer launch - 24 September 2007
Offer closes - Offer has closed oversubscribed
Allotment Date - 3 December 2007
Offer Details
The minimum investment is $10,000, thereafter in multiples of 1,000 units. Investors under the Instalment Options pay the Issue price of $1.00 per Unit in two instalments:
Investors should obtain and consider the Product Disclosure Statement (“PDS”) for the offer in deciding whether the investment is appropriate for them and whether to acquire or hold Units in the Fund.
Further Information
You must read the PDS in connection with the National Privacy Notification and Financial Services Guide.
1. The forecasts referred to in this term sheet are based on a number of assumptions and are subject to risks. The forecasts, assumptions and risks are described in the Product Disclosure Statement for the Offer. There is no guarantee that any forecast result will be achieved.
2. The NAB Foundation offer is available to investors during the offer open period from 10 September 2007 to 02 November 2007 only.
3. The stated forecast distribution yields are applicable to Foundation Investors under the Ungeared Option. Forecast distribution yield for Foundation Investors investing under the Geared Option is 8.14%p.a. for period from Allotment to 30 June 2008, 8.25% p.a. for year to 30 June 2009.
4. Weighted average lease expiry is based on existing lease expiry profiles for Core Plus Office Fund, Core Plus Industrial Fund, Diversified Property Fund and Core Plus Retail Fund. As at the date of this Note, Charter Hall Opportunity Fund 5 does not have any seed assets.
5. The Responsible Entity may make a withdrawal offer to all Unitholders (of the same class) from time to time in accordance with the Corporations Act (a Withdrawal Offer) and subject to the availability of assets to fund any such Withdrawal Offer.
6. Charter Hall will invest $50 million in CHUF through CHUF notes.
Important Notice
This document relates to the issue by Charter Hall Funds Management Limited (ABN 31 082 991 786, AFSL 262861) (“CHFML”) of units in the Charter Hall Umbrella Fund (ARSN 127 457 738) (the ‘Fund’). The offer is made by CHFML in its capacity as responsible entity of the Fund.
Please note that this Indicative Term Sheet is based on information provided by CHFML about the offer as at 20 September 2007 and is subject to change by the offer open date. It is important that you consider the full and final details of the offer which will be set out in the Product Disclosure Statement, (“Disclosure Document”) for the Fund, which will be available from National Australia Bank Limited (ABN 12 004 044 937, AFSL 230686) (“nab”) on or about 24 September 2007 before making any decision to invest in the Fund. This information is not to be distributed to or relied upon any person without the prior consent of nab. Please call 1800 652 669 for a copy of the Disclosure Document for the Fund.
The products referred to this Indicative Term Sheet are only to be issued or offered to residents of Australia. The distribution of this document outside Australia may be restricted by law and any failure to comply with such restrictions may constitute a violation of applicable laws.
No investment advice
While every care has been taken in the preparation of the information contained in this Indicative Term Sheet, neither nab, nab Online Trading Limited (“NOLT”), nor any other member of the National Australia Bank Group or their respective associates or directors makes any representation or warranty as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. To the maximum extent permitted by law, nab, NOLT and each other such person expressly disclaim all or any liability which may arise out of the provision to, or use by, any person of the information contained in this Indicative Term Sheet.
The information in this document is of a general nature only and has been prepared for the purpose of providing general background information about the Fund and does not take into account the particular investment objectives, financial situation or needs of any person. It does not constitute a recommendation to invest in the Fund. Before making any investment in the Fund, you should ensure that you have read and understood the Disclosure Document in full, including the risks involved in investing the Fund, and you should obtain professional advice on whether the Fund is an appropriate investment for you having regard to your particular investment needs, objectives and financial circumstances.
Forward looking statements
Past performance is not a reliable indicator of future performance. Without limiting the foregoing, any forecast, budget, target, projection or other forward looking statement (“Projection”) is provided for information purposes only and comprises CHFML’s estimates of future prospects. No warranty or representation is given as to the accuracy or reasonableness of any such Projection or that any such Projection will actually be met. As the achievement of any such Projection is dependent on future events, the outcome of which cannot be assumed, the actual results achieved may vary materially from any Projection.
Role of nab
nab performs various roles in relation to the Fund and/or the proposed offer of units in the Fund. nab is acting as Equity Arranger and Underwriter. nab will receive equity arranging and distribution fee of 5.125% of the total equity raised and an underwriting fee of 1.00% of the equity underwritten by nab. Furthermore nab is providing debt facilities in respect of the Geared Offer and also directly to the Fund. Please refer to the Disclosure Document for full details. nab may act if necessary to protect its interests ahead of investors in the Fund and other parties. In acting in its various capacities, nab will only have the duties and responsibilities expressly agreed by it in the relevant capacity and will not, by virtue of acting in any other capacity, be deemed to hold any differing standard of care.
The authors of this Indicative Term Sheet receive remuneration from nab comprising of salary and depending on a number of factors, a bonus that may be influenced by total sales, including products that are the subject of this document.
Neither nab, nor any other member of the National Australia Bank Group or their respective associates or directors guarantee the performance of any investment or any particular rate of return referred to in this Indicative Term Sheet. The investment described in this Indicative Term Sheet is not an investment in, a deposit with or other liability of nab, NOLT or any other member of the National Australia Bank Group and such investment, if made, will be subject to investment risk, including possible delays in repayments and loss of income or capital invested. Neither nab, NOLT nor any other member of National Australia Bank Group in any way stands behind the capital value nor does it guarantee the performance of the Fund. nab also does not provide a guarantee or assurance in respect of CHFML or any other member of the Charter Hall Group.
Banking Code of Practice
nab has adopted the revised Code of Banking Practice 2003. For details of the Code contact nab on 13 22 65 and select the option to speak to a Customer Service Representative. Or visit us at www.nab.com.au. For more information about nab’s dispute resolution processes click on Dispute Resolution.
Privacy
Your privacy is important to us. You may request access to personal information nab holds about you subject to certain exceptions under law. If you would like to request access to your personal information and for more information about our Privacy Policy, please contact nab on 13 22 65 and select the option to speak to a Customer Service Representative. Or visit us at www.nab.com.au. For more information about privacy in general, you can visit the Federal Privacy Commissioner's website www.privacy.gov.au
The information on this website has been prepared for the purpose of providing information only without taking account of any particular investor's objectives, financial situation or needs. An investor should, before making any decision whether to buy or hold units in the Trust, consider the full details set out in the PDS for the product (available as set out above), and seek professional advice, having regard to the investor's objectives, financial situation and needs
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