Qualitas Real Estate Income Fund Announces Weekly NTA of $1.6066 Per Unit as of 20 July 2026

Insight into Qualitas Real Estate Income Fund’s Investment Approach

The Qualitas Real Estate Income Fund aims to provide unitholders with monthly income and capital preservation by investing in a diversified portfolio of real estate loans secured by first and second mortgages, predominantly in Australia. This mortgage-backed lending strategy offers investors exposure to the real estate sector through credit instruments rather than direct property ownership, generating income primarily from interest payments on these loans.

By focusing on mortgage-secured loans, the fund positions itself as an income-generating vehicle that distributes returns regularly while safeguarding the capital invested. The emphasis on first and second mortgages adds layers of security, with first mortgages holding the highest priority claims on the underlying properties.

Qualitas Group’s Role in Real Estate Capital Management

QRI Manager Pty Ltd, responsible for managing the Qualitas Real Estate Income Fund, is wholly owned by Qualitas Group, a prominent alternative real estate investment manager. Qualitas Limited (ASX:QAL) manages approximately $10.9 billion in committed funds as of 31 December 2025, underscoring its significant footprint in the alternative real estate investment market.

Qualitas bridges global capital providers with Australian real estate opportunities, catering to institutional, wholesale, and retail investors. With 18 years of experience, the group has financed assets valued over $40 billion across various real estate sectors. Its investment platform includes real estate private credit, opportunistic private equity, income-producing commercial properties, and build-to-rent residential assets, enabling flexible capital solutions and long-term shareholder value creation, including through the QRI listed fund.

Governance and Oversight by the Responsible Entity

The Trust Company (RE Services) Limited serves as the Responsible Entity for the Qualitas Real Estate Income Fund, overseeing compliance with the trust deed and relevant legislation such as the Corporations Act. Acting as custodian of investor interests, it ensures the fund operates within its stated objectives and regulatory framework.

As a wholly owned member of the Perpetual Group, a well-established Australian financial services provider with over 135 years of heritage and more than 55 years listed on the ASX, The Trust Company (RE Services) Limited brings extensive expertise in trustee and fund management roles. Holding Australian Financial Services Licence 235150, it reinforces strong governance and investor confidence in QRI.

Significance of Weekly NTA Valuation for Investors

The reported NTA per unit of $1.6066 as at 20 July 2026 represents the unaudited estimate of net tangible assets attributable to each unit. This weekly figure is vital for unitholders as it reflects the underlying asset value supporting each unit and serves as a benchmark for fund transactions. The NTA calculation deducts liabilities from total tangible assets and divides by the number of units on issue, providing a snapshot of fund value at a given time.

No comparative NTA data from previous periods was disclosed in this release, so changes from prior valuations remain unspecified. The fund treats Net Asset Value and Net Tangible Assets equivalently in its reporting. Investors should note that NTA can fluctuate due to shifts in mortgage portfolio valuations, interest rates, borrower credit quality, and market conditions. Historical NTA trends are accessible via the fund’s official investor portal or website.

Investor Access to Fund Information and Support Services

Qualitas Real Estate Income Fund offers multiple avenues for investors to access information and manage their holdings. The official website at qualitas.com.au/QRI provides comprehensive resources including the Product Disclosure Statement (PDS), target market determination, and ASX announcements. This centralized platform ensures transparency and ease of access to essential fund information.

Investors can contact the fund’s investor services team at +61 3 9612 3939 or email [email protected] for general inquiries. The unit registry, operated by MUFG Corporate Markets (AU) Limited, supports account management and administrative services and can be reached at +61 1800 628 703, fax 02 9287 0303, or email [email protected]. The investor portal at au.investorcentre.mpms.mufg.com allows unitholders to review holdings, transaction history, and distributions, enhancing investor engagement and service quality.

Market Environment Impacting Mortgage-Backed Fund Performance

The real estate lending sector underpinning QRI’s strategy is influenced by interest rate cycles, property market dynamics, and credit availability. Mortgage-backed funds benefit from stable property values, moderate interest rates, and strong borrower repayment capacity. QRI’s focus on first and second mortgages offers exposure to real estate while generating income through borrower interest payments.

Interest rate fluctuations significantly affect mortgage fund performance by impacting borrower serviceability and asset valuations. Economic factors such as property market conditions, employment, and construction activity also influence credit quality. Concentrated in Australian properties, QRI’s portfolio is sensitive to domestic residential and commercial property trends and development activity. While investors gain from regular income streams, capital values may vary with market and economic shifts.

Regulatory Framework and Product Disclosure for Investors

Operating under a robust regulatory framework, the Qualitas Real Estate Income Fund ensures investor protection and transparency. The Product Disclosure Statement (PDS), available on the fund’s website, details investment objectives, risks, fees, and terms. Prospective and current investors should review the PDS carefully to determine suitability based on personal financial goals and circumstances. Ongoing disclosures include regular NTA updates and annual financial reports.

This NTA release is authorized by The Trust Company (RE Services) Limited and prepared by QRI Manager Pty Ltd, both licensed Australian financial services providers. The communication provides general information and does not constitute personalized financial, tax, or legal advice. It highlights that past performance is not indicative of future results. Investors are encouraged to consult licensed financial advisers before making investment decisions regarding QRI or other financial products.

Capital Scale and Fund Position Within Qualitas Platform

As part of the broader Qualitas investment platform managing approximately $10.9 billion in committed funds as of 31 December 2025, the Qualitas Real Estate Income Fund benefits from substantial capital resources, market insights, and investment opportunities. This scale facilitates diversified portfolio construction, efficient capital deployment, and favorable negotiation terms with borrowers and capital providers. The group’s 18 years of market experience and strong sector relationships enhance fund performance potential.

The fund’s objective to provide monthly income positions it as an attractive option for investors seeking regular cash distributions. However, monthly income payments are a target and not guaranteed, dependent on mortgage portfolio performance, borrower interest payments, and overall fund operations. Economic downturns or borrower difficulties could impact distribution capacity. The NTA valuation serves as a key indicator of the fund’s ability to sustain returns.

Risks and Considerations for Investors in QRI

Investors in the Qualitas Real Estate Income Fund should consider risks associated with mortgage-backed lending. Credit risk is paramount, as borrower defaults can reduce income and affect unit values. Concentration risk may arise from portfolio exposure to specific property types, regions, or borrower sectors within Australia.

Market risk includes interest rate changes impacting asset valuations and borrower creditworthiness. Australian real estate market conditions directly influence underlying security values and borrower capacity. Liquidity risk may affect investors seeking to redeem units, depending on the fund’s ability to liquidate mortgage assets or access redemption facilities. Regulatory risks involve potential changes in lending rules, borrower protections, or superannuation investment policies. Investors should thoroughly review the PDS and seek professional advice to understand how these risks align with their investment objectives and risk tolerance.