AUS
NZ
UK
CA
USA
IND
Qualitas Real Estate Income Fund (ASX:QRI), a listed trust specialising in Australian real estate private credit, has published its estimated unaudited Net Tangible Asset (NTA) per unit for the month ending 30 June 2026, reporting a value of $1.6001. This update was provided by The Trust Company (RE Services) Ltd acting as the Responsible Entity of the fund. The NTA figure offers unitholders and potential investors a regular benchmark to evaluate the intrinsic value of the trust's portfolio. For investors focused on income, this monthly disclosure is a vital transparency tool for a fund primarily investing in real estate loans secured by first and second mortgages across Australia.<\/p> <\/div>
Key Points<\/h3>
- Entity: Qualitas Real Estate Income Fund (ASX:QRI)<\/li>
- Estimated unaudited monthly NTA per unit as at 30 June 2026: $1.6001<\/li>
- NTA data is unaudited and sourced from QRI Fund Services Pty Ltd<\/li>
- Fund management by QRI Manager Pty Ltd, wholly owned by Qualitas Group (ASX:QAL), which had approximately $10.9 billion in committed funds under management as of 31 December 2025<\/li>
- The Responsible Entity is The Trust Company (RE Services) Limited, part of the Perpetual Group<\/li>
- Investors should monitor upcoming monthly NTA updates and any changes to portfolio composition or income distributions<\/li>
<\/ul>
<\/div>
June 2026 NTA Per Unit Confirmed at $1.6001 for QRI<\/h2>
The Qualitas Real Estate Income Fund reported an estimated unaudited NTA per unit of $1.6001 as at 30 June 2026. This figure was prepared by QRI Fund Services Pty Ltd and announced through a company update dated 3 July 2026, signed by Vicki Riggio, General Manager of The Trust Company (RE Services) Ltd. The Responsible Entity clarified that for reporting purposes, Net Asset Value and Net Tangible Assets are considered equivalent.<\/p>
Publishing monthly NTA figures is a common practice among listed investment trusts and closed-end funds, providing unitholders with a consistent and timely indication of the underlying asset value. For QRI, operating as a real estate private credit vehicle, the NTA reflects the estimated value of the fund’s loan portfolio and related assets, net of liabilities, on an unaudited basis. Investors should note this figure is an estimate and has not undergone independent audit at the time of release.<\/p>
Real Estate Loan Portfolio Drives QRI’s NTA Valuation<\/h2>
QRI’s portfolio primarily consists of real estate loans secured by first and second mortgages predominantly within Australia. Consequently, the NTA figure closely depends on the valuation, performance, and repayment status of these underlying loans. Unlike equity-focused real estate funds, QRI’s credit-centric approach aims to offer capital stability, as loans are secured by real estate assets.<\/p>
The fund’s objective is to deliver monthly income alongside capital preservation. However, the company update highlights there is no guarantee that the trust will achieve this objective and that monthly cash income payments are a target rather than assured. This distinction is critical for investors evaluating the NTA; a stable or consistent NTA over time may indicate the loan book is performing as expected, though past performance is not a reliable predictor of future results.<\/p>
Qualitas Group’s $10.9 Billion Platform Supports QRI Management<\/h2>
QRI is managed by QRI Manager Pty Ltd, a wholly owned subsidiary of the Qualitas Group. Qualitas Limited (ASX:QAL), the parent company, 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 offers QRI unitholders access to extensive sourcing capabilities, credit evaluation processes, and market relationships of a large institutional platform.<\/p>
Qualitas has operated through multiple market cycles over 18 years, with the combined value of financed assets exceeding $40 billion across various real estate sectors as at 31 December 2025. The firm’s expertise covers real estate private credit, opportunistic private equity, income-producing commercial real estate, and build-to-rent residential projects. This broad platform is cited as a key advantage in sourcing and evaluating real estate credit investments for funds like QRI.<\/p>
The Trust Company and Perpetual Group as Responsible Entity<\/h2>
The Responsible Entity for QRI is The Trust Company (RE Services) Limited, a wholly owned member of the Perpetual Group. Perpetual is one of Australia’s longest-established financial services firms, operating for over 135 years and listed on the ASX for more than 55 years. As Responsible Entity, The Trust Company (RE Services) Limited issues units in the trust and ensures the fund complies with its constitution and regulatory requirements.<\/p>
The involvement of a Perpetual Group entity provides an additional governance layer between the fund manager, QRI Manager Pty Ltd, and the body overseeing administration and compliance. This structure is common among Australian managed investment schemes and aims to safeguard unitholder interests.<\/p>
Monthly NTA Reporting Enhances Transparency for QRI Investors<\/h2>
For QRI investors, the monthly NTA release offers one of the most frequent and direct insights into the fund’s estimated intrinsic value. Unlike many listed entities that report quarterly or semi-annually, QRI’s monthly disclosure enables unitholders to monitor changes in estimated investment value on a rolling basis. This frequency is particularly important for income-focused investors tracking the relationship between market price and NTA.<\/p>
A premium to NTA in market trading may indicate strong demand relative to asset value, while a discount suggests the opposite. The immediate impact of the June 2026 NTA announcement on QRI’s share price was not publicly evident. Investors are advised to review market data alongside company disclosures to evaluate QRI’s market pricing relative to its NTA.<\/p>
Interpreting the $1.6001 NTA in the Australian Real Estate Credit Market<\/h2>
Australia’s real estate private credit sector has seen rising interest from institutional and retail investors, driven by higher interest rates and tighter bank lending conditions that expanded opportunities for non-bank lenders. QRI’s focus on loans secured by first and second mortgages on Australian real estate makes its NTA sensitive to the quality and valuation of collateral and borrower credit performance.<\/p>
The reported $1.6001 per unit NTA reflects an unaudited estimate as of 30 June 2026. The company did not disclose details such as portfolio composition, loan book size, weighted average loan-to-value ratios, or distribution yield in this update. Interested parties should consult QRI’s Product Disclosure Statement and periodic disclosures available on the trust’s website for further information.<\/p>
Accessing Additional Information on QRI’s Portfolio and Distributions<\/h2>
Unitholders and prospective investors can obtain more information by contacting the fund at +61 3 9612 3939 or via email at [email protected]. The trust’s website, qualitas.com.au/QRI, provides the current Product Disclosure Statement, target market determination, and periodic and continuous disclosure announcements. The unit registry is managed by MUFG Corporate Markets (AU) Limited, reachable at +61 1800 628 703.<\/p>
The company update notes that the communication contains general information only and does not constitute financial, tax, or legal advice. Investors should review the current PDS and consider whether the trust aligns with their personal objectives, financial circumstances, and needs. Those requiring tailored advice should consult a licensed or authorised financial adviser before making investment decisions regarding QRI.<\/p>
Important Dates and Reporting Schedule for QRI Investors<\/h2>
With QRI’s commitment to monthly NTA reporting, the next key date for investors will be the release of the July 2026 NTA estimate, expected on a similar timeline as previous monthly updates. Regular monthly reporting helps investors track the fund’s estimated value trend over time, aiding in evaluating stability and any significant changes in the loan portfolio.<\/p>
Besides NTA disclosures, investors should monitor QRI’s distribution announcements related to its objective of providing monthly income. Updates on investment strategy, portfolio changes, or commentary from Qualitas Group regarding the Australian real estate credit market may also be pertinent. All such information is available through the ASX announcements platform and the QRI website.<\/p>
Regulatory Disclaimers and Context Surrounding QRI’s NTA Disclosure<\/h2>
The company update includes important disclaimers. The NTA figure is described as an estimated, unaudited value with no guarantee of accuracy, reliability, or completeness. Neither The Trust Company (RE Services) Limited, QRI Manager Pty Ltd, Qualitas Securities Pty Ltd, nor their related entities or officers accept liability regarding this communication.<\/p>
These disclaimers are standard for monthly NTA estimates in listed managed investment schemes, where valuations rely on periodic asset assessments rather than real-time market prices. The trust operates under Australian Financial Services Licence conditions, with the Responsible Entity holding AFSL 235150 and QRI Manager Pty Ltd acting as an authorised representative of Qualitas Securities Pty Ltd (AFSL 342242). Investors should consider these regulatory and disclosure factors when evaluating the NTA figure.<\/p>
June 2026 NTA Per Unit Confirmed at $1.6001 for QRI<\/h2>
The Qualitas Real Estate Income Fund reported an estimated unaudited NTA per unit of $1.6001 as at 30 June 2026. This figure was prepared by QRI Fund Services Pty Ltd and announced through a company update dated 3 July 2026, signed by Vicki Riggio, General Manager of The Trust Company (RE Services) Ltd. The Responsible Entity clarified that for reporting purposes, Net Asset Value and Net Tangible Assets are considered equivalent.<\/p>
Publishing monthly NTA figures is a common practice among listed investment trusts and closed-end funds, providing unitholders with a consistent and timely indication of the underlying asset value. For QRI, operating as a real estate private credit vehicle, the NTA reflects the estimated value of the fund’s loan portfolio and related assets, net of liabilities, on an unaudited basis. Investors should note this figure is an estimate and has not undergone independent audit at the time of release.<\/p>
Real Estate Loan Portfolio Drives QRI’s NTA Valuation<\/h2>
QRI’s portfolio primarily consists of real estate loans secured by first and second mortgages predominantly within Australia. Consequently, the NTA figure closely depends on the valuation, performance, and repayment status of these underlying loans. Unlike equity-focused real estate funds, QRI’s credit-centric approach aims to offer capital stability, as loans are secured by real estate assets.<\/p>
The fund’s objective is to deliver monthly income alongside capital preservation. However, the company update highlights there is no guarantee that the trust will achieve this objective and that monthly cash income payments are a target rather than assured. This distinction is critical for investors evaluating the NTA; a stable or consistent NTA over time may indicate the loan book is performing as expected, though past performance is not a reliable predictor of future results.<\/p>
Qualitas Group’s $10.9 Billion Platform Supports QRI Management<\/h2>
QRI is managed by QRI Manager Pty Ltd, a wholly owned subsidiary of the Qualitas Group. Qualitas Limited (ASX:QAL), the parent company, 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 offers QRI unitholders access to extensive sourcing capabilities, credit evaluation processes, and market relationships of a large institutional platform.<\/p>
Qualitas has operated through multiple market cycles over 18 years, with the combined value of financed assets exceeding $40 billion across various real estate sectors as at 31 December 2025. The firm’s expertise covers real estate private credit, opportunistic private equity, income-producing commercial real estate, and build-to-rent residential projects. This broad platform is cited as a key advantage in sourcing and evaluating real estate credit investments for funds like QRI.<\/p>
The Trust Company and Perpetual Group as Responsible Entity<\/h2>
The Responsible Entity for QRI is The Trust Company (RE Services) Limited, a wholly owned member of the Perpetual Group. Perpetual is one of Australia’s longest-established financial services firms, operating for over 135 years and listed on the ASX for more than 55 years. As Responsible Entity, The Trust Company (RE Services) Limited issues units in the trust and ensures the fund complies with its constitution and regulatory requirements.<\/p>
The involvement of a Perpetual Group entity provides an additional governance layer between the fund manager, QRI Manager Pty Ltd, and the body overseeing administration and compliance. This structure is common among Australian managed investment schemes and aims to safeguard unitholder interests.<\/p>
Monthly NTA Reporting Enhances Transparency for QRI Investors<\/h2>
For QRI investors, the monthly NTA release offers one of the most frequent and direct insights into the fund’s estimated intrinsic value. Unlike many listed entities that report quarterly or semi-annually, QRI’s monthly disclosure enables unitholders to monitor changes in estimated investment value on a rolling basis. This frequency is particularly important for income-focused investors tracking the relationship between market price and NTA.<\/p>
A premium to NTA in market trading may indicate strong demand relative to asset value, while a discount suggests the opposite. The immediate impact of the June 2026 NTA announcement on QRI’s share price was not publicly evident. Investors are advised to review market data alongside company disclosures to evaluate QRI’s market pricing relative to its NTA.<\/p>
Interpreting the $1.6001 NTA in the Australian Real Estate Credit Market<\/h2>
Australia’s real estate private credit sector has seen rising interest from institutional and retail investors, driven by higher interest rates and tighter bank lending conditions that expanded opportunities for non-bank lenders. QRI’s focus on loans secured by first and second mortgages on Australian real estate makes its NTA sensitive to the quality and valuation of collateral and borrower credit performance.<\/p>
The reported $1.6001 per unit NTA reflects an unaudited estimate as of 30 June 2026. The company did not disclose details such as portfolio composition, loan book size, weighted average loan-to-value ratios, or distribution yield in this update. Interested parties should consult QRI’s Product Disclosure Statement and periodic disclosures available on the trust’s website for further information.<\/p>
Accessing Additional Information on QRI’s Portfolio and Distributions<\/h2>
Unitholders and prospective investors can obtain more information by contacting the fund at +61 3 9612 3939 or via email at [email protected]. The trust’s website, qualitas.com.au/QRI, provides the current Product Disclosure Statement, target market determination, and periodic and continuous disclosure announcements. The unit registry is managed by MUFG Corporate Markets (AU) Limited, reachable at +61 1800 628 703.<\/p>
The company update notes that the communication contains general information only and does not constitute financial, tax, or legal advice. Investors should review the current PDS and consider whether the trust aligns with their personal objectives, financial circumstances, and needs. Those requiring tailored advice should consult a licensed or authorised financial adviser before making investment decisions regarding QRI.<\/p>
Important Dates and Reporting Schedule for QRI Investors<\/h2>
With QRI’s commitment to monthly NTA reporting, the next key date for investors will be the release of the July 2026 NTA estimate, expected on a similar timeline as previous monthly updates. Regular monthly reporting helps investors track the fund’s estimated value trend over time, aiding in evaluating stability and any significant changes in the loan portfolio.<\/p>
Besides NTA disclosures, investors should monitor QRI’s distribution announcements related to its objective of providing monthly income. Updates on investment strategy, portfolio changes, or commentary from Qualitas Group regarding the Australian real estate credit market may also be pertinent. All such information is available through the ASX announcements platform and the QRI website.<\/p>
Regulatory Disclaimers and Context Surrounding QRI’s NTA Disclosure<\/h2>
The company update includes important disclaimers. The NTA figure is described as an estimated, unaudited value with no guarantee of accuracy, reliability, or completeness. Neither The Trust Company (RE Services) Limited, QRI Manager Pty Ltd, Qualitas Securities Pty Ltd, nor their related entities or officers accept liability regarding this communication.<\/p>
These disclaimers are standard for monthly NTA estimates in listed managed investment schemes, where valuations rely on periodic asset assessments rather than real-time market prices. The trust operates under Australian Financial Services Licence conditions, with the Responsible Entity holding AFSL 235150 and QRI Manager Pty Ltd acting as an authorised representative of Qualitas Securities Pty Ltd (AFSL 342242). Investors should consider these regulatory and disclosure factors when evaluating the NTA figure.<\/p>
