RAM Essential Services Property Fund (ASX:REP) reported a daily on-market buyback of its ordinary fully paid securities, with 42,500 shares repurchased Monday for about AU$25,371 in total, according to a Tuesday filing with the Australian bourse.

The proposed maximum number of securities to be bought back is around 5.9 million shares, the filing said.

Shares of the fund fell nearly 1% in recent Tuesday trade.