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Qualitas Real Estate Income Fund (ASX:QRI), a publicly traded real estate private Credit trust managed by the Qualitas Group, has published its latest weekly estimated Net Tangible Asset (NTA) backing per unit, reporting a value of $1.6101 as at 29 June 2026. This update was authorised by The Trust Company (RE Services) Limited, the fund’s Responsible Entity, and signed by General Manager Vicki Riggio. For investors focused on income, the weekly NTA disclosure offers a consistent reference point to evaluate the fund’s intrinsic asset value compared with its Market Price. The figure is unaudited and provided by QRI Fund Services Pty Ltd, with all amounts denominated in Australian dollars.
Key Points
- Entity: Qualitas Real Estate Income Fund (ASX:QRI)
- Estimated unaudited NTA per unit as at 29 June 2026: $1.6101
- NTA figure is unaudited and sourced from QRI Fund Services Pty Ltd
- The Responsible Entity is The Trust Company (RE Services) Limited, a wholly owned subsidiary of the Perpetual Group
- QRI Manager Pty Ltd, the fund manager, is wholly owned by Qualitas Group (ASX:QAL), which had approximately $10.9 billion in committed funds under management as of 31 December 2025
- Investors should monitor forthcoming weekly NTA updates and any modifications to the fund’s Loan portfolio composition
Qualitas Real Estate Income Fund Reports Estimated NTA of $1.6101 Per Unit for Week Ending 29 June 2026
The Qualitas Real Estate Income Fund announced an estimated unaudited Net Tangible Asset backing of $1.6101 per unit, effective as of 29 June 2026. This figure, sourced from QRI Fund Services Pty Ltd, was disclosed on 1 July 2026 by the fund’s Responsible Entity, The Trust Company (RE Services) Limited. The company clarified that for this reporting, Net Asset Value and Net Tangible Assets are considered equivalent.
Investors should note that the NTA is unaudited, representing an internal estimate rather than a formally audited financial statement. Weekly NTA disclosures are standard for listed Investment trusts and funds, enabling investors and Market Participants to regularly track the value of underlying assets. The immediate impact on the share price was not evident from publicly available information.
QRI’s Real Estate Private Credit Approach Drives Fund’s NTA Valuation
The Qualitas Real Estate Income Fund aims to deliver monthly income and Capital preservation by investing in a portfolio of real estate loans secured by first and second mortgages, primarily within Australia. This loan-focused strategy means the fund’s NTA is largely based on the value of its credit portfolio, making weekly NTA updates a significant indicator of the loan book’s performance at a given time.
The fund’s emphasis on secured Mortgage lending—covering both first and second mortgage positions—provides investors exposure to real estate private credit while aiming to protect capital through security over tangible assets. However, the company cautioned that there is no guarantee the Trust will achieve its investment objectives, and that payment of monthly cash income is a target, not a certainty.
Qualitas Group’s $10.9 Billion Platform Supports QRI Management
QRI is managed by QRI Manager Pty Ltd, a wholly owned subsidiary of the Qualitas Group. The parent company, Qualitas Limited (ASX:QAL), is an ASX-listed Australian alternative real estate investment manager with approximately $10.9 billion in committed funds under management as of 31 December 2025. This scale provides QRI investors with context regarding the manager’s access to deal flow, industry networks, and expertise across real estate private credit and Equity markets.
According to the update, Qualitas has operated through market cycles for 18 years and has financed assets valued at over $40 billion across all real estate sectors as of 31 December 2025. Its investment scope includes real estate private credit, opportunistic real estate Private Equity, income-producing Commercial Real Estate, and build-to-rent residential projects. This diversified platform underpins the sourcing and evaluation of QRI’s lending activities.
Perpetual Group’s Trust Company Acts as QRI’s Responsible Entity
The Responsible Entity for the Qualitas Real Estate Income Fund is The Trust Company (RE Services) Limited, a wholly owned member of the Perpetual Group. Perpetual is one of Australia’s oldest financial institutions, with over 135 years of operation and more than 55 years listed on the ASX. Having a Perpetual Subsidiary as Responsible Entity provides independent oversight between the Fund Manager and unitholders.
The weekly NTA update released on 1 July 2026 was authorised by The Trust Company (RE Services) Limited and signed by General Manager Vicki Riggio. The Responsible Entity’s role, mandated by Australian regulations, includes ensuring the fund complies with its constitution and relevant laws. Investors with questions can contact the fund at [email protected] or by phone at +61 3 9612 3939.
Weekly NTA Disclosures Enhance Transparency for Listed Income Funds
Weekly NTA reporting is a disclosure practice adopted by various ASX-listed income funds and investment trusts to provide unitholders with more frequent insight into estimated asset backing compared to quarterly or semi-annual reports. For funds like QRI, which invest in relatively Illiquid private credit assets rather than publicly traded securities, the NTA estimate reflects the manager’s best current valuation and may not correspond to realizable unit prices in the Secondary Market.
The company emphasized that these figures are unaudited estimates. The NTA per unit of $1.6101 as at 29 June 2026 serves as a benchmark for investors comparing the fund’s ASX unit price to the estimated asset value, commonly referred to as the premium or discount to NTA. No commentary on the fund’s current premium or discount was provided in this update.
QRI’s Mortgage-Backed Loan Portfolio Focused on Australian Assets
The fund’s strategy centers on providing capital through real estate loans secured by first and second mortgages, predominantly in Australia. This domestic focus aligns the fund’s performance with Australian commercial and residential real estate lending market conditions, including Interest Rate fluctuations, property valuations, and borrower credit quality.
Holding a portfolio of secured mortgage loans means QRI’s NTA is affected by loan repayments, extensions, and any credit events. The company did not disclose specific loan portfolio details or changes in this update. Investors seeking detailed portfolio information are directed to the fund’s website at qualitas.com.au/QRI and its continuous disclosure announcements.
Unit Registry and Investor Access for QRI Holders
Unit registry services for the Qualitas Real Estate Income Fund are provided by MUFG Corporate Markets (AU) Limited. Investors can access the investor portal at au.investorcentre.mpms.mufg.com or contact the registry by phone at +61 1800 628 703. These channels facilitate management of holdings, statement access, and personal detail updates.
For general investment inquiries, the fund’s Investor Relations team can be reached at [email protected]. The fund’s Product Disclosure Statement (PDS) and Target market determination are available on the Trust’s website, as required under Australian financial services regulations. Prospective investors are advised to consult licensed financial advisers before investing, noting the weekly NTA update does not constitute financial, tax, or legal advice.
Implications of the 29 June 2026 NTA for Ongoing QRI Investor Monitoring
For current and prospective QRI unitholders, the weekly NTA figure of $1.6101 per unit as at 29 June 2026 is one of several metrics used to evaluate the fund’s condition over time. Monitoring NTA across weekly releases can help identify trends in the loan book’s estimated value, though weekly changes may be minor and subject to revision during formal audited reporting.
The next important update will be the following weekly NTA release, providing additional portfolio valuation data. Over the longer term, investors will focus on formal periodic reports, including audited financial statements, distribution announcements, and portfolio updates that shed light on the mortgage loan portfolio’s composition and credit quality. The company reminded investors that past performance is not a reliable indicator of future results.
Qualitas Group’s Extensive Real Estate Investment Platform and Its Connection to QRI
Qualitas Group aims to align global capital with attractive Risk-adjusted investment opportunities across real estate private credit and private equity, serving institutional, wholesale, and retail clients. With approximately $10.9 billion in committed funds under management and assets financed exceeding $40 billion, the firm is a major player in Australian alternative real estate investment markets.
QRI serves as the listed retail-accessible vehicle within Qualitas’s broader platform, enabling ASX investors to access real estate private credit via a daily-liquid listed structure. The fund’s regular NTA disclosures—including the 29 June 2026 update—support transparency for retail investors. This announcement indicates the fund continues to meet its regular reporting obligations without disclosing material portfolio changes or updated guidance alongside this NTA figure.
