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Cromwell Funds Management

Five reasons unlisted commercial property is an attractive allocation in uncertain times

Cromwell takes a look at replacement cost as a practical lens on relative value in commercial property. When build-new costs rise faster than asset pricing, the gap can create opportunities in well-located existing assets.

Redefining the office flight to quality: a Sydney CBD case study

On face value, it’s easy to see why the 'Premium is best' narrative has emerged – but there’s more to the story! Greater diversity of spaces is needed to support focused work, collaboration, and flexibility, with implications for building layouts and landlord-led fitouts.

The physical office in a hybrid world

The trend towards hybrid working was already in motion prior to the pandemic, but has been accelerated and solidified by it, establishing it as the norm. For informed investors, filling the supply gap by providing office space suitable for modern occupation brings performance opportunity.

The polarisation of the office market

Views on the short and long term changes expected in occupier demand for office space as ESG compliance and hybrid working specifications become key requirements, and how this influences the market dynamic and opportunities for investors.

Practical application of ESG and investment strategy

Affording significant weight to ESG for investment decisions is prudent for real estate investors regardless of whether they have altruistic or financial motivations given that ESG-based strategies deliver superior long-term capital protection, creation and growth.

Stock in focus: Sydney Airport

Cromwell completed its takeover of Sydney Airport in March 2022 marking the conclusion of 20 years as a listed entity. The journey has been long and colourful, with many lessons learned along the way in terms of aviation, finance, governance and politics.

Latest Updates

SMSF strategies

Meg on SMSFs: How wide is the ban on LRBAs?

The government's recent deal with the Greens has put SMSF property borrowing on the chopping block. The change raises tricky questions about timing, exceptions and what SMSFs will still be able to buy.

Shares

Why Australian shares are falling behind the world

Australia’s market boasts a long record of outperformance, but recent results tell a different story. Is the ASX’s lagging performance a temporary setback or evidence that structural forces will keep global markets ahead?

Taxation

The strange effect of the 30% minimum capital gains tax

The 30% minimum tax on capital gains sits at the heart of the budget's proposed reforms. Yet the mechanics reveal anomalies that introduce unexpected distortions that raise questions about its design.

Shares

The next phase of Australian equity leadership

For years, banks have powered Australian sharemarket returns. But changing economic conditions, stretched valuations and global trends suggest the next generation of winners may not be found in familiar domestic sectors.

Economy

Global market growth hinges on Iran War and AI rollout

Global growth is facing mounting pressure from war, higher oil prices, inflation and trade tensions. But a wave of AI-related investment may prove powerful enough to support economic activity and reshape the outlook for markets.

Retirement

The retirees who can't spend

Why do so many retirees pass away with their wealth intact? Conventional wisdom blames pension rules for the reluctance to spend, but a case study from New Zealand shows that the answer may not be as predictable.

Investment strategies

Here’s my investment philosophy. What’s yours?

Investors often hear they need an “investment philosophy,” yet few know what that really means. Beneath the jargon sits a simple idea: a handful of core beliefs that shape every financial decision, for better or worse.

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