Property manager creates unlisted

28 February 2017

Publication: Financial Standard
Author: Jamie Williamson
Date: 28 February 2017

Property manager creates unlisted fund

A subsidiary of an Australian property fund manager recently launched its new unlisted property fund. 
This week Centuria Property Funds launched the Centuria Diversified Property Fund. It is a multi-asset, open-ended unlisted property fund with an objective to deliver tax-effective monthly income with the potential for long-term capital growth via a diversified portfolio.
The fund has been investing in unlisted property funds since May 2016 with seed capital from Centuria Capital. Its view is to acquire direct assets as it grows and be made available on the approved product lists of large dealer groups and wrap platforms.
The fund has been developed in response to demand from investors and planners wanting an open-ended fund with daily unit pricing and a limited monthly liquidity facility.
Centuria chief executive John McBain said the last six months has transformed the firm.
“During an exceptionally busy period, we have remained focused on our strategy and we have continued to deliver on that strategy by diversifying our product range with the launch of this fund, offering our investors a diversified open-ended, unlisted investment alternative that will have appeal to a much wider group of investors, financial planners, dealer groups and potentially platforms,” McBain said.

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