CFS Retail Property Trust

General questions answered about Australian Real Estate Investment Trusts (A-REIT)
What is an A-REIT?
What does listed mean?
What does 'cum distribution' mean?
What is the 'ex-distribution date'?
What is the 'Record Date'?

Questions answered about CFS Retail Property Trust (CFX)
How do I obtain a Product Disclosure Statement for CFX?
How do I buy or sell units?
Who publishes research on CFX?
Who is the Responsible Entity?
Who is the Manager?
How is the Manager remunerated?
Is a Distribution Reinvestment Plan (DRP) available?
What is the distribution payment date?
When is the next distribution payment due?
How do I calculate information for my tax return?
How do I change my registration details, eg address, bank account details etc?
How do I give notification of my tax file number (TFN)?
How do I access my current unitholding or find out historical unit prices?
What is the value of my investment?
How do I contact the Unit Registry? 

What is an A-REIT?
A-REIT stands for Australian Real Estate Investment Trust. Historically, they have been known as Listed Property Trusts (LPTs). An A-REIT is a property trust which invests in a portfolio of property assets and is listed on the Australian Securities Exchange (ASX). Investors are able to buy units in an A-REIT on the ASX, which provides them with a share of the ownership of the Trust and entitlements to the returns of the Trust. A-REIT returns are largely comprised of the rent received from the assets that the Trust owns, which are paid to unitholders in the form of distributions.

Being listed on the ASX, units in A-REITs are traded each day and their price will rise and fall according to market conditions.

What does listed mean?
A trust is 'listed' when its units are quoted (or listed) on the Australian Securities Exchange (ASX). As the units of CFX are listed on the ASX and actively traded each day, their value will rise and fall according to market conditions. This is different from many unit trusts (which are unlisted) where the investment manager calculates the unit price daily. Units in listed trusts can be bought or sold via a stockbroker.

What does 'cum distribution' mean?
Cum means 'with'. Units quoted cum distribution means that units are being traded with the current distribution attached (the price of the units will usually include the amount of the distribution). Units sold cum distribution do not entitle the previous owner to receive the last declared distribution prior to the sale, that is, the purchaser will receive the declared distribution.

What is the 'ex-distribution date'?
The ex-distribution date is the date on which units change from being quoted 'cum' to 'ex'. Units are usually quoted ex-distribution four business days before the Trust's Record Date. The unit price may fall on the ex-distribution date, with the fall in price being similar to the amount of distribution to be paid. Units sold ex-distribution entitle the seller (the previous owner) to receive the last declared distribution prior to the sale, rather than the purchaser.

What is the 'Record Date'?
The Record Date is the date on which the Trust's unit register is closed off to identify the unitholders and to calculate any entitlement to the Trust's current distribution. All change of address notifications, request for payment of dividends direct to an Australian financial institution, TFN/ABN or exemption notification instructions election forms must be incorporated onto the unit register by 5pm on the Record Date to apply for the Trust's current distribution. 

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How do I obtain a Product Disclosure Statement for CFX?
As CFX is listed on the ASX, you do not require a Product Disclosure Statement or an application form to invest. You can simply buy or sell units in the Trust by contacting your stockbroker.

How do I buy or sell units?
As CFX is listed on the ASX, you can buy or sell units in CFX directly via the ASX by contacting your stockbroker. If you don't have a stockbroker, the ASX provides useful hints at www.asx.com.au for selecting an appropriate stockbroker, as well as providing a list of participating stockbrokers on the ASX.

Who publishes research on CFX?
A number of large broking/research firms have published research about CFX. These include (in alphabetical order):

Bank of America Merrill Lynch
Citigroup
CLSA
Commonwealth Bank
Credit Suisse
Deutsche Bank
Goldman Sachs
JP Morgan
Macquarie Bank
Morgan Stanley
National Australia Bank
UBS

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Who is the Responsible Entity?
Commonwealth Managed Investments Limited (CMIL) ABN 33 084 098 180 is the Responsible Entity of CFS Retail Property Trust. CMIL is a wholly owned subsidiary of Commonwealth Insurance Holdings Limited (CIHL). CIHL is a wholly owned subsidiary of Commonwealth Bank of Australia, the ultimate parent of the group.

Who is the Manager?
Commonwealth Managed Investments Limited (CMIL), the Responsible Entity, has appointed Colonial First State Property Retail Pty Limited (CFSPRPL) as the Manager of the Trust. CMIL is a wholly owned subsidiary of Commonwealth Insurance Holdings Limited (CIHL). CIHL and CFSPRPL are wholly owned subsidiaries of Commonwealth Bank of Australia, the ultimate parent of the group.

How is the Manager remunerated?
Commonwealth Managed Investments Limited (CMIL), the Responsible Entity is entitled to receive a base fee of 0.45% per annum of the gross asset value of the Trust less any derivative financial instrument assets, calculated and accrued on a monthly basis and payable half-yearly.

CMIL is also entitled to a capped performance fee if CFX’s total return performance (income and capital appreciation) exceeds the S&P/ASX 200 Retail Property Accumulation Index (excluding CFX) over the performance period. CMIL is remunerated in cash for the performance component of the management fee.

The method of calculation of the performance fee is detailed in the Notice of Meeting and enhancement to the Explanatory Memorandum dated 19 September 2002. 

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Is a Distribution Reinvestment Plan (DRP) available?
On 8 December 2003, CFX's Distribution Reinvestment Plan ('the Plan') was reinstated, effective for the Trust's December 2003 distribution.

Unitholders should read the terms and conditions of the DRP carefully and seek any further professional advice considered necessary before deciding whether to participate in the Plan.

If unitholders would like to elect to participate in the Plan or have any questions in relation to the Plan or their CFX unitholding, please contact Link Market Services Limited on 1800 500 710. Alternatively, please download a DRP form and forward to the Unit Registry.
Correctly completed forms must be received at the unit registry by 5pm on the relevant distribution's Record Date for the instruction to be valid for that distribution.

What is the distribution payment date?
The distribution payment date is the date on which the distribution is paid by cheque or by direct credit or reinvested in CFX units via the distribution reinvestment plan.

When is the next distribution payment due?
For details of CFX's distribution payment dates and mailings, please refer to the Key dates page. 

How do I calculate information for my tax return?
Unitholders will be sent an Annual Tax Statement in late August each year. This statement will provide unitholders with the information they require to complete their tax return (see also Distributions). If you would like another copy of a previous tax statement, please refer to the Tax statements page.

How do I change my registration details, eg address, bank account details etc?
Our Unit Registry, Link Market Services have a number of options available to make changes to personal information relating to your unitholding.

Online:  Visit the Access your unitholding section of this website to amend details online or download the appropriate form where necessary. You can also view and update your holding information through the Unit Registry's website at www.linkmarketservices.com.au

Phone:  Contact the Unit Registry to request an instruction form:
1800 500 710 (Freecall) or 61 2 8280 7105

Mail:  Forward a signed written instruction (include relevant form where necessary) to:

CFS Retail Property Trust
C/- Link Market Services Limited
Locked Bag A14
Sydney South NSW 1235

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How do I give notification of my tax file number (TFN)?
Please contact our Unit Registry, Link Market Services by phone or put your request in writing.

How do I access my current unitholding or find out historical unit prices?
To access details of your current unitholding or historical unit prices, please visit the Access your unitholding section of the CFX website. You will need your Holder Identification Number (HIN) or Securityholder Reference Number (SRN) to access this imformation.

What is the value of my investment?
As the units of CFX are listed on the ASX, their value can change throughout the day. To calculate the value of your investment, simply multiply the number of units you hold by the current unit price.

The number of units you hold can be found on your latest distribution statement, or by logging-in to the Access your unitholding section of the CFX website.

The current unit price is available in most major metropolitan newspapers or on the price chart (under Investor information ). Historical unit prices can be found by entering the Access your unitholding section of the CFX website. You will need your Holder Identification Number (HIN) or Securityholder Reference Number (SRN), registered name and postcode to access this section of the CFX website.

How do I contact the Unit Registry? 

CFS Retail Property Trust
C/- Link Market Services Limited  

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