Performance Fees Boost Charter Hall Coffers.

The Charter Hall Office Trust completed the payment to Charter Hall of a $148m performance fee payable by the Fund for the 2019. Approximately $50m of the fee was attributed to FY2019.

Following receipt of the funds, Charter Hall has available balance sheet liquidity of $350 million and gearing of 2.8%. The Group’s weighted average debt maturity is 6.3 years.

Managing Director and Group CEO David Harrison said: “The payment of the CHOT performance fee reflects the successful investment outcome that CHOT fund investors have experienced and Charter Hall’s ability to secure investment opportunities.”

Based on information currently available, particularly in relation to COVID-19, Charter Hall also reaffirms its FY20 earnings guidance of post-tax operating earnings per security (OEPS) growth of approximately 40% over FY19.

When the impact of the CHOT performance fee is removed from both FY19 and FY20 earnings, the FY20 guidance implies post-tax operating earnings per security growth of approximately 30% over FY19.