Charter Hall Direct Office Fund is an unlisted property fund with a quality Australian office property portfolio with a focus on CBD and established property markets.
Here you will find information relating to unit prices, distributions, taxation and fund liquidity.
Existing investors can access information on their holding through InvestorServe, a secure online facility hosted by the registry, Boardroom. Investors can view details of their holding, update personal information or communication preferences and download historical statements or correspondence.
If you are having trouble accessing InvestorServe or you aren’t registered yet, call the registry on 1300 137 895.
New Product Disclosure Statement (PDS)
The Fund has issued a new PDS dated 14 December 2022 (PDS). The PDS has been updated to comply with ASIC Regulatory Guide 97. There have been no material changes to the PDS dated 1 March 2019. Visit the Resources page to download the updated PDS.
The Wholesale A unit class is open for investment.
The current buy spread is nill and the current sell spread is 2.5%
Please note, the unit price is placed on hold at certain times, including during the time taken to process distributions and while independent valuations are being finalised.
Past performance is not a reliable indicator of future performance. For more information see the Product Disclosure Statement.
The fund's distributions are payable quarterly in arrears between 15 and 20 days after the quarter ending March and September and between 20 and 25 days after the quarter ending June and December. Distribution rates are reviewed on an ongoing basis.
DOF's historical distributions can be found below. Past performance is not a reliable indicator of future performance.
Australian and New Zealand resident investors may reinvest all of their distribution entitlement for Ordinary Units. Any distribution reinvested will be invested at the ex-distribution entry price prevailing on the last day of the period. As at July 2023, there is no Buy Spread and a 5% discount to the Entry Price for reinvested distributions.
The fund's year end for taxation purposes is 30 June, at which time the net income and the components of the distribution are determined. The total annual distribution is advised in the Annual Tax Statement, mailed to investors in August.
To access your Annual Tax Statement please login to InvestorServe or contact registry.
Withholding tax to be applied to foreign investors
DOF is a managed investment trust for the purpose of subdivision 12-H of the Taxation Administration Act 1953 (Cth). These components are provided solely for the purposes of subdivision 12-H and should not be used for any other purpose.
Distribution history for the purpose of Subdivision 12-H.
A taxation guide has been produced to assist investors in completing their income tax return. The guide provides general information only and should not be relied on, and does not constitute taxation advice.
The Fund remains open and has five-year investment terms. This information is for investors looking to redeem their investment.
As per the product disclosure statement, Charter Hall Direct Office Fund provides Limited Withdrawal Offers and Liquidity Events.
Limited Withdrawal Offers
Limited Withdrawal Offers are intended to be made every six months, subject to the Fund having available liquid assets. Limited Withdrawal Offers are notified via the quarterly report and published on this website.
There are currently no Limited Withdrawal Offers open.
Liquidity Events will be offered every five years. Subject to its obligations at law, the Responsibility Entity will endeavour to provide liquidity for all investors wishing to redeem all or some of their investment.
The next Liquidity Event is expected to occur in December 2024 and all investors will be notified at that time.
General information about liquidity
DOF is an illiquid investment and is not open to daily withdrawals.
When a Limited Withdrawal Offer or Liquidity Event is open, a form will be available on this website. Please note that withdrawal or liquidity forms are not general and are specific to each offer.
When participating in Limited Withdrawal Offers or Liquidity Events you can go online to InvestorServe to confirm that your form has been received or you can call the registry on 1300 137 895 to request confirmation of receipt. Any forms received after the close date will not be valid.
The amount you receive when you participate in a Limited Withdrawal Offer or Liquidity Event is the number of units you redeem multiplied by the unit price as at the date of payment, less any sell spread. All offers may be cancelled, deferred, scaled back or suspended in exceptional circumstances. Refer to the PDS for further details.
Distributions for DOF are payable quarterly in arrears between 15 and 20 days after the quarters ending March and September and between 20 and 25 days after the quarters ending June and December. Further information can be found on the Investor Centre page.
DOF has rolling five year investment terms.
The fund was relaunched in 2014 with an initial term ending in or around December 2019. Following the conclusion of the initial term, the fund will have rolling five year terms.
A unique identifier issued by APIR® to participants and products within the financial services industry. DOF's APIR® code is MAQ0842AU (Wholesale A units), MAQ0433AU (Retail units), MAQ0650AU (Ordinary units) and MAQ0448AU (Wholesale units).
DOF is not open to daily withdrawals.
DOF is an illiquid investment and investors should expect to redeem their investment in the fund only when it is wound up or when there is a Liquidity Event.
As per the fund's product disclosure statement, DOF provides Limited Withdrawal Offers and Liquidity Events.
Limited Withdrawal Offers are intended to be made every six months, subject to the fund having available liquid assets. Liquidity Events will be offered at the conclusion of each five year investment term.
Please refer to the Liquidity section of the Investor Centre and the product disclosure statement for additional information.
Units in DOF are also transferable and investors may elect to sell their units privately.
We cannot assist investors to find a buyer for their units. However if an investor does find a willing buyer and negotiates the sale of their units, a standard transfer and application form will need to be completed by each party and sent to our registry for processing. Forms are available for download on the Documents & Forms page.
DOF also has relief from ASIC to pay redemption requests received from investors who are suffering financial hardship. If you qualify for financial hardship you may be able to access some or all of your investment. Please refer to the FAQ titled 'Can I withdraw my investment in the fund if I am suffering hardship?' for additional information.
A Limited Withdrawal Offer is a way for us to assist investors who wish to access their capital by offering an opportunity to redeem their investment.
As per the DOF product disclosure statement, Limited Withdrawal Offers are intended to be made every six months, subject to the fund having available liquid assets.
Charter Hall intends to notify investors of upcoming Limited Withdrawal Offers via the quarterly report. Additional details will be published under the Liquidity section of the Investor Centre.
To participate in a Limited Withdrawal Offer, investors will need to complete a withdrawal form and submit completed forms to the registry for processing. Withdrawal forms will be made available for download in the Investor Centre once a Limited Withdrawal Offer has opened.
To check correspondence has been received, please go online to InvestorServe at any time. Alternatively, you can call our registry on 1300 137 895 to request confirmation of receipt. Please ensure you provide your investor number when making any enquiries about your investment.
Any forms received after a Limited Withdrawal Offer has closed will not be counted or valid and will not receive a redemption.
The amount you receive from a Limited Withdrawal Offer will depend on the total value of all requests received. As a result, the amount you receive may be less than the amount you have requested. If the total value of requests from investors exceeds the amount available, you will receive a percentage of your requested amount.
The Australian Securities & Investments Commission (ASIC) may grant operators of property funds the ability to provide an early withdrawal mechanism for investors where there is hardship, in preference to all other investors. DOF has received relief from ASIC to pay redemption requests received by investors who are suffering financial hardship. If you qualify for financial hardship, you may be able to access some or all of your investment.
The minimum withdrawal amount is $1,000 (subject to change and management's discretion). If a withdrawal request is received which would result in you holding less than the minimum withdrawal amount and your hardship redemption meets the ASIC criteria, your entire investment may be redeemed.
The maximum withdrawal amount investors can apply for through a hardship request is the lesser of:
Different application processes apply dependent on the investor type.
Where a person has invested indirectly through an entity such as a superannuation fund, master trust or wrap account (also referred to as an Investor Directed Portfolio Service or ‘IDPS’), please refer to the documentation and processes pertaining to the IDPS.
A hardship application must be made on behalf of the person who is seeking a withdrawal based on hardship. This is done by completing the appropriate withdrawal application form and attaching it to the hardship statutory declaration completed by the individual experiencing the hardship.
The superannuation fund, master trust or wrap account investor must comply with any obligations under the terms of the relevant trust or arrangement under which it acts and all other applicable laws.
For direct investors in the fund, please note that an investor must have exhausted all other avenues to access sufficient funds including applying for financial hardship through the investor's superannuation fund and applying to Centrelink for assistance. This information is to be attached to a hardship withdrawal application form and mailed to the fund's registry.
An investor suffering from hardship must:
Send the relevant forms and supporting documents to:
Charter Hall Direct Property Management Limited
GPO Box 2704
Sydney NSW 2001
Each hardship claim is assessed on an individual basis according to the ASIC hardship criteria and supporting documentation.
Applications for hardship are reviewed at the end of each month, so it is important to have all relevant documentation submitted before that time. If a hardship request meets the ASIC criteria and is approved, payment will be made as soon as practical and will usually be around 30 days after approval is granted.
It is intended that hardship redemptions will be available to investors whilst the fund has sufficient liquid assets required to operate the fund in the best interests of all investors. The hardship policy may be suspended, cancelled or modified at any time.
If a hardship redemption is approved, the withdrawal of units in the fund will be based on the sell price at the date of approval. See the Unit price section for the latest available unit price.
Yes, you can apply for redemption under the hardship policy in addition to applying for redemption under a withdrawal offer. Please note a redemption request under the hardship policy is subject to additional criteria.
Yes. Holders of Retail, Wholesale and Ordinary units may elect to have their holding reclassified as Wholesale A units. Conditions apply. Please consult your adviser, then contact us on 1300 652 790 or email firstname.lastname@example.org for further information.
The option to reinvest your distributions is only available to Australian or New Zealand resident investors and only applies to DOF Wholesale A Units. Please refer to the Distribution section of the Investor Centre and the product disclosure statement for additional information.
You are required to provide written notification to note the death of an investor on our register.
The death of an investor can be notified by sending either:
Please also send new bank account details with the written notification if they are required.
Once the notification has been made, there are two options: apply to redeem the investment or keep the investment by transferring it to a surviving holder or beneficiary.
Option 1: Apply to redeem the investment
From July 2021, a deceased estate's holdings can be redeemed at any time, subject to certain limits, including a maximum request of $500,000 per investor per fund. The following entities are eligible to make a deceased estate redemption request:
The following entities are not eligible for deceased estate redemption requests:
If eligible to request a redemption, please complete the Deceased Estate Withdrawal Request Form (Direct) and provide all required supporting documentation described in the form. Please note, all supporting documentation relating to notification of a deceased estate must be certified copies.
Redemption requests are reviewed at the beginning of each month. If the request is approved, payment will usually be made around 30 days after approval is granted. Redemptions will be processed on or around the 15th of each month using the unit price that day minus the sell spread. It is not possible to backdate a request.
Deceased estate redemptions may be cancelled, deferred, scaled back or suspended in exceptional circumstances such as where it is impracticable to offer liquidity or it would not be in the best interests of remaining investors for liquidity to be offered.
Please send all documentation to the Charter Hall registry team at email@example.com.
Information for financial advisers
For investments held on wrap platforms, the redemption request can be managed by the wrap platform directly using the Deceased Estate Withdrawal Request Form (Wrap) or you can transfer the investment off wrap to a direct holding and deal with Charter Hall directly. Please contact your local BDM for further information.
Option 2: Transfer the investment to a surviving holder or beneficiary
If you are ineligible to request a redemption, your application to redeem is not approved or you wish to keep the investment for other reasons, you need to transfer the investment to a surviving holder or beneficiary. Please see below for what to provide depending on the holding type.
Individual account (Australian unitholding) with probate:
Individual account (Australian unitholding) without probate (only possible if the holding is valued at less than $20,000):
Joint account or joint executors of a super fund (Australian unitholding):
Sole Director of a Company:
Contact our registry on 1300 137 895 for further information on administering a deceased estate or for information on overseas unitholder or company matters.