This year was characterised by the growth of Trilogy Funds and its products, accelerating the momentum of previous years.

Trilogy Industrial Property Trust

The Trilogy Industrial Property Trust moved from strength to strength in 2025.

• On 15 December 2025, the Trust acquired a modern distribution centre in Darwin’s key logistics corridor, securing a long-leased asset backed by national tyre wholesaler, Tyremax.
• On 28 November 2025, the Trust acquired a facility in Tomago, NSW, which comprises three workshops, two warehouses and two office spaces, and is leased to a national mining group.
• In 2025 the portfolio grew by $17.2 million. Of this, $7.28 million was due to valuation uplifts and $9.92 million was due to strategic acquisitions, taking total assets under management to $308.2 million.
• In September, the Trust was ‘Highly Commended’ in the Direct Property category at the 2025 Financial Newswire / SQM Research Fund Manager of the Year Awards. This marked the fourth consecutive year that Trilogy Funds has been a finalist in the Direct Property category, having won the category’s Fund Manager of the Year award in 2023, as well as being ‘Highly Commended’ in 2024.

Trilogy Monthly Income Trust

A milestone year for the Trilogy Monthly Income Trust.

• In November, the Trust surpassed $1 billion in funds under management, reflecting continued confidence and trust our investors place in our flagship investment product and our commitment to delivering consistent monthly returns.
• This was matched by continued consolidation of our reputation as a lender of choice, writing a record number of loans during the year. Trilogy Funds started the year with $940 million in approved financing solutions, this had increased to $1.3 billion by December.
• In July, Trilogy Funds was named a finalist in the Australian Wealth Management Awards 2025’s Private Credit Fund Manager Category.

Trilogy Funds

Trilogy Funds positioned itself for the next phase of growth in 2025.

• Sustained momentum across Trilogy Fund Group’s (the Group) subsidiary entities, including Trilogy Funds Management Limited (Trilogy Funds) saw the leadership team reshaped to support continued expansion. The changes include Philip Ryan’s appointment as Executive Chairman of the Group, departing his role as Managing Director of Trilogy Funds. Justin Smart and Henry Elgood were appointed Co-Managing Directors of the Group, and Clinton Arentz was appointed Managing Director of Trilogy Financing Pty Ltd, which oversees the Group’s lending activities.
• In November, Trilogy Funds’ Sydney office relocated to accommodate team growth and to better serve our investors, partners and clients.
• Trilogy Funds launched a new product, the Trilogy Essential Retail Fund (the Fund). In September, Trilogy Funds investors raised $13.65 million to acquire Brighton Village Shopping Centre in Butler, Western Australia. The fully leased, Coles-anchored convenience retail centre was purchased for $25.3 million via a mix of equity and debt and seeded the Fund.
• Trilogy Funds launched a number of stakeholder event series in 2025, including ‘Building stability: The case for property and private credit in a volatile world’ and ‘Off-Market: Where deals develop and drinks flow’.

This article is issued by Trilogy Funds Management Limited ABN 59 080 383 679 AFSL 261425 (Trilogy Funds) and does not take into account your objectives, personal circumstances or needs, nor is it an offer of securities. Investments in Trilogy Funds’ products are only available through the relevant Product Disclosure Statement (PDS). The PDS and the Target Market Determination (TMD) issued by Trilogy Funds are available at www.trilogyfunds.com.au. All investments, including those with Trilogy Funds, involve risk which can lead to no or lower than expected returns, or a loss of part or all of your capital. See PDS and TMD for details. Investments with Trilogy Funds are not bank deposits and are not government guaranteed. Past performance is no indicator of future performance.