March 2022 – Please be aware of scammers falsely representing AMP Capital. AMP Capital is aware of an ongoing scam operation targeting customers and the broader community, offering inflated interest returns, available through fictitious investment vehicles, titled AMP Capital High Yield Fixed Return Global Market Fund. Through the use of phishing emails and phone calls, malicious operators are attempting to entice them to invest in a false product that features AMP Capital’s branding. Please be aware this is a not a legitimate product from AMP Capital.

AMP Capital does not approach potential customers via electronic direct mail (EDM) nor does the company solicit personal or financial information via email. If you are concerned that you may have been targeted by scammers, please contact us on 1800 658 404 from 8.30am to 5.30pm Monday to Friday (Sydney time). More information on scams can also be found on the ACCC’s website Scamwatch.

Wholesale Australian Property Fund

Ready to invest? Apply online today!

A diversified commercial property fund with a focus on income

Adding quality commercial properties to your portfolio is a great way to diversify and seek to receive regular income but you usually need to be a large institutional investor to do so. With the Wholesale Australian Property Fund, you can invest in a diversified portfolio of quality Australian office, retail and industrial properties. The Fund aims to provide stable returns, made up primarily of income with some long-term capital growth. It targets assets which have high occupancy rates and stable income streams underpinned by leases to long-term, secure commercial tenants.

“The fund aims to provide bite-sized access to a large and diversified commercial property portfolio usually out of reach for smaller investors."

Chris Davitt, Fund Manager
  •  commercial property investments
    A diversified portfolio of commercial property investments

    The Fund provides investors with the opportunity to invest in an established portfolio of office, retail and industrial properties which are occupied by corporate and government tenants.

  • Open-ended access to commercial property
    Open-ended access to commercial property

    The Fund is open-ended allowing investors to choose when they invest. It also provides investors with access to a usually unaffordable asset class using low levels of debt to reduce risk. 

  • Over 50 years experience in commercial property
    Over 50 years experience in commercial property

    Our teams have expertise across all areas of property investment including investment research, property management, leasing, capital transactions, development and funds management.

Fund information pack

Download an information pack for the Wholesale Australian Property Fund.

How does this fund fit into your portfolio?

The Fund is designed for investors seeking an an investment which provides a regular and sustainable distribution with capital growth over the long term.

Description of target market for this fund

This product is likely to be appropriate for a consumer seeking capital growth and regular income to be used as a small allocation within a portfolio where the consumer has a medium to long investment timeframe and a low to medium risk/return profile. The fund provides monthly access to capital.

Withdrawal frequency

Withdrawal requests are generally processed monthly according to specified withdrawal dates. Generally, withdrawal requests will be satisfied within five Business Days of the specified withdrawal date, but may take up to 12 months, or longer, as allowed under the Fund's constitution.

Risk profile

The Fund may be suitable for a consumer with a low to medium risk profile, seeking to minimise potential losses (eg has the ability to bear up to 2 negative returns over a 20-year period (SRM 3)) and is comfortable with a moderate target return profile.

What are the risks?

All investments involve risk and you should consider investment risks before making an investment decision. The key risks of investing in the Wholesale Australian Property Fund include or are associated with:

  • Liquidity - The Fund's direct property investments are generally held over the longer term and considered illiquid which means you may not have immediate access to your capital investment. In addition, selling commercial properties generally takes three to six months and may take longer in a market downturn.
  • Property investment risks such as any factors which may impact rental income such as vacancy and demand in the marketplace by investors for property which can affect its overall value
  • Share market investment
  • Interest rates
  • Gearing and the use of debt

The ‘Risks of investing’ section of the Product Disclosure Statement for this Fund provides further information about the risks noted above, as well as information about other investment risks of which you should be aware.

Product marketing name Wholesale Australian Property Fund
APIR code NML0001AU
Investment objective The objective of the Fund is to provide income and long term capital growth.
Distribution frequency Quarterly
Product inception date 31 Mar 1985
Minimum investment 10,000
Risk level (1-7) 3
Product status Open
Minimum suggested timeframe 5 years
APIR code NML0001AU


As at 28 Feb 2023
1 Month 0.41%
3 Month -0.19%
1 Year 7.04%
3 Year 6.46%
5 Year 7.42%
Since inception 8.82%
Past performance is not a reliable indicator of future performance.

Change to Responsible Entity (Update)

AMP Capital Funds Management Limited (ABN 15 159 557 721, AFSL 426455) (AMPCFM) has been appointed as the responsible entity (RE) for the Wholesale Australian Property Fund (ARSN 088 996 392) (WAPF) replacing–National Mutual Funds Management Ltd (ABN 32 006 787 720, AFSL 234652) (NMFM).


Notices to Unitholders: Insufficient voting requests were received by NMFM from the unitholders in WAPF to require a meeting of unitholders or postal vote on the decision to replace the RE. NMFM has retired as RE of WAPF and appointed AMPCFM in their place effective from 11 April 2022.


More information
Effective 11 April 2022, a new Product Disclosure Statement has been issued to reflect the change of RE for WAPF.


We are in the process of transitioning the responsible entity of WAPF from NMFM to AMPCFM (effective Monday 11 April 2022). Where a transaction in relation to WAPF has occurred prior to 11 April 2022 please read any reference to AMPCFM as a reference to NMFM (as applicable), which was the responsible entity prior to 11 April 2022.

Important note: The unit prices displayed in this section are indicative only

If unit prices are not available for today then the latest available prices will be displayed. Unit prices are not calculated on weekends or public holidays.

Our unit price discretion policy states where we may exercise certain discretions in determining the unit price of units on application or withdrawal in each investment option. View and download our Unit Pricing Discretions Policy for the types of discretions that we may exercise, in what circumstances, our policies on how we exercise the discretions and the reasons why we consider our policies are reasonable.


AMP Capital funds
NMFM Unit Trust funds


Unit prices are provided for your information only and are not guaranteed. They are based on historical data and you should not rely on the above information as the basis for making any investment, financial or other decision as past unit prices are not a reliable indicator of future unit prices.


During the time it takes to process an application or redemption application, the unit price may vary and the actual unit prices applying to applications and redemptions may differ from those displayed in this section. Actual unit prices can be confirmed on receipt of a completed application or redemption form.


None of AMP Capital Funds Management Limited (ABN 15 159 557 72, AFSL 426455), AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497), National Mutual Funds Management Limited (ABN 32 006 787 720, AFSL 234652), or any company within the AMP Group makes any representation or warranty as to the reliability, completeness or accuracy of the unit price information or accepts any responsibility arising in any way (including by reason of negligence) for errors in or omissions from the unit price information.

The information in this section is not an offer or recommendation of securities or other financial products offered by the AMP Group and is not an invitation to take up securities or other financial products. Investors should consider the relevant PDS available from us for the relevant fund before making any decision regarding the product.


Important notes: Past performance

Past performance is not a reliable indicator of future performance.

Performance is annualised for periods greater than one year. Total returns are calculated using the unit price which uses the net asset values for the relevant month end. This price may differ from the actual unit price for an investor applying for or redeeming an investment. Actual unit prices will be confirmed following any transaction by an investor. Returns quoted are before tax, after fees and costs, and assume all distributions are reinvested.

Important information:
AMP Capital Funds Management Limited. (ABN 15 159 557 721, AFSL 426455) (AMPCFM) is the responsible entity of the Wholesale Australian Property Fund ("the Fund") (ARSN 088 996 392) and the issuer of the units in the Fund. To invest in the Fund, investors will need to obtain the current Product Disclosure Statement (PDS) from AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232 497) (AMP Capital). The PDS contains important information about investing in the Fund and it is important that investors read the PDS before making a decision about whether to acquire, or continue to hold or dispose of units in the Fund. Neither AMP Capital, AMPCFM nor any other company in the AMP Group guarantees the repayment of capital or the performance of any product or any particular rate of return referred to in this information. Past performance is not a reliable indicator of future performance. While every care has been taken in the preparation of this information, AMP Capital makes no representation or warranty as to the accuracy or completeness of any statement in it including without limitation, any forecasts. This content has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. Investors should, before making any investment decisions, consider the appropriateness of this information, and seek professional advice, having regard to their objectives, financial situation and needs. This content is not intended for distribution or use in any jurisdiction where it would be contrary to applicable laws, regulations or directives and does not constitute a recommendation, offer, solicitation or invitation to invest. A target market determination has been made in respect of the Fund and is available at www.ampcapital.com/tmd.

The Lonsec Rating (assigned December 2020) presented in this document is published by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421445. The Rating is a “class service” (as defined in the Financial Advisers Act 2008 (NZ)) or is limited to “General Advice” (as defined in the Corporations Act 2001 (Cth)) and based solely on consideration of the investment merits of the financial product(s). In New Zealand it must only be provided to “wholesale clients” (as defined in the Financial Advisers Act 2008 (NZ)). Past performance information is for illustrative purposes only and is not indicative of future performance. It is not a recommendation to purchase, sell or hold AMP Capital product(s), and you should seek independent financial advice before investing in this product(s). The Rating is subject to change without notice and Lonsec assumes no obligation to update the relevant document(s) following publication. Lonsec receives a fee from the Fund Manager for researching the product(s) using comprehensive and objective criteria. For further information regarding Lonsec’s Ratings methodology, please refer to http://www.lonsecresearch.com.au/research-solutions/our-ratings.

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned to APIR NML0001AU, November 2021) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Fund Research Regulatory Guidelines.

The Zenith Fund Awards were issued 11 October 2019 by Zenith Investment Partners (ABN 27 130 132 672, AFSL 226872) and are determined using proprietary methodologies. The Fund Awards are solely statements of opinion and do not represent recommendations to purchase, hold or sell any securities or make any other investment decisions. To the extent that the Fund Awards constitutes advice, it is General Advice for Wholesale clients only without taking into account the considerations of the objectives, financial situation or needs of any specific person. Investors should seek their own independent financial advice before making any investment decision and should consider the appropriateness of advice. Investors should obtain a copy of and consider any relevant PDS or offer documents before making any investment decisions. Past performance is not an indication of future performance. Fund Awards are current for 12 months from the date awarded and are subject to change at any time. Fund Awards for previous years are referenced for historical purposes only.

The Core Property rating (assigned in October 2020) presented in this document has been prepared and issued by Core Property Research Pty Ltd (“Core Property”), which is an Authorised Representative ASIC number 001257225 of Odyssey Capital Funds Management Ltd (AFSL No. 297283), and trading as Core Property. Whilst the information contained in the report has been prepared with all reasonable care from sources that Core Property believes are reliable, no responsibility or liability is accepted by Core Property for any errors, omissions or misstatements however caused. Past performance information is for illustrative purposes only and is not indicative of future performance. The Core Property publication is not and should not be construed as, an offer to sell or the solicitation of an offer to purchase or subscribe for any investment. Any opinion contained in the Report is unsolicited general information only. Neither Core Property nor the Participant is aware that any recipient intends to rely on this Report or of the manner in which a recipient intends to use it. To access the full report, please click here (https://www.coreprop.com.au/#!/unlisted-fund-research). The rating is subject to change without notice and Core Property assumes no obligation to update the report.

Cookies & Tracking on our website.  We use basic cookies to help remember selections you make on the website and to make the site work. We also use non-essential cookies, website tracking as well as analytics - so we can amongst other things, show which of our products and services may be relevant for you, and tailor marketing (if you have agreed to this). More details about our use of cookies and website analytics can be found here
You can turn off cookie collection and/or website tracking by updating your cookies & tracking preferences in your browser settings.