Charter Hall Umbrella Fund (CHUF)

Withdrawal Offers

Charter Hall is pleased to announce that Charter Hall Umbrella Fund (CHUF or the Fund) has recommenced limited investor redemptions. Charter Hall Funds Management Limited, as Responsible Entity of CHUF, has reviewed the liquid assets of the Fund and the likely timing of liquidity from review events for the Fund's underlying unlisted investments and has determined that the most appropriate form of liquidity will initially be via limited six-monthly withdrawal offers.

The opening date for the latest withdrawal offer is 7 May 2012. For more information including the terms of this withdrawal offer and how to participate, please click here or contact the Responsible Entity on 1300 652 790.

Further liquidity for investors will be provided around the major fund review events for the Core Plus Office Fund and Core Plus Industrial Fund in 2013 and 2014 respectively.

Hardship Redemptions

In addition to any periodic redemptions, CHUF recently received relief from the Australian Securities and Investments Commission (ASIC) to pay redemption requests received by unitholders who are suffering financial hardship. If you qualify for financial hardship you may be able to redeem part  or all of your investment in addition to participating in withdrawal offers. To receive a redemption based on financial hardship, you must meet the specified hardship criteria and there must be sufficient liquid assets available in the Fund. Hardship relief can only be permitted in accordance with ASIC guidelines. Hardship requests will only be considered for investors who are natural persons. Hardship requests from companies will not be considered. For further information click here.

Closed for Investment

The Responsible Entity has determined to, at this point in time, close CHUF for new applications by withdrawing the Fund's Product Disclosure Statement and discontinuing the distribution reinvestment plan. This will allow the Responsible Entity to focus on providing liquidity to existing investors as the Fund's underlying investment mature from 2012 through to 2015.

The Responsible Entity may re-open CHUF to investment depending on investment demand and the liquidity profile of the Fund at that time. Closing CHUF to investor applications and distribution reinvestment will not change the Fund's distribution policy with quarterly distribution payments to unitholders. With the Fund's underlying assets continuing to be actively managed, the Responsible Entity expects to maintain quarterly income distributions with tax-deferral benefits.

Investments

The portfolio of predominantly Charter Hall managed funds that CHUF invests in currently comprises more than 60 assets with a diversified weighted average lease expiry profile. CHUF's largest tenant exposures include Wesfarmers (Bunnings and Coles Supermarkets), Woolworths, Australian federal and state governments, Telstra, Westpac and Volkswagen Australia demonstrating the diversity of the Fund's underlying cash flow. View the Fund's recent Quarterly Report for a summary of CHUF's current position and its underlying investments.

Charter Hall Umbrella Fund invests in the following funds: 
Charter Hall Core Plus Office Fund (CPOF)
Charter Hall Core Plus Industrial Fund (CPIF)
Charter Hall Opportunity Fund No.5 (CHOF5)
Charter Hall Diversified Property Fund (DPF)

This information has been prepared by Charter Hall Funds Management Limited ABN 31 082 991 786; AFSL 262861 ("CHFML") for information purposes only. This website is not an offer to sell or a solicitation or an offer to subscribe or purchase or a recommendation of any securities referred to herein and the information has not taken into account any potential investors' personal objectives, financial situation or needs. Before investing, you should consider your own objectives, financial situation and needs or you should obtain financial, legal and/or taxation advice.

CHFML does not receive fees in respect of the general financial product advice it may provide, however they will receive fees for operating the schemes of which it is the responsible entity ("Schemes") which, in accordance with the Schemes' Constitutions, are calculated by reference to the value of the assets of the Schemes. Entities within the Charter Hall Group may also receive fees for managing the assets of, and providing resources to the Schemes. For more detail on fees, see our latest annual report. To contact us, call 1300 365 585 (local call cost).