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Australasian real estate fund manager, Centuria Capital Group (ASX: CNI), has credited the diversification of its platform to delivering strong FY22 full year results, meeting operating earnings per security (OEPS) guidance of 14.5cps2 (+20.8% pcp) and distribution per security (DPS) guidance of 11.0cps (+10% pcp).
During previous reporting seasons, Centuria announced several mergers and acquisitions and in FY22 it has demonstrated how these entities provided a gateway into alternative asset classes such as healthcare, agriculture and real estate credit, as well as expand into traditional asset classes to include daily needs retail and large format retail.
This diversification helped the Group achieve considerable scale, growing Assets Under Management (AUM) to $20.6 billion1, an increase of 18% on FY21. Its real estate funds management platform expanded to $19.8 billion with $13 billion across unlisted funds (+18%pcp) and $6.8 billion across listed funds (+24%pcp).
FY22 gross real
Joint CEO’s, John McBain and Jason Huljich discuss the Fund’s FY22 highlights.
1. Assets under management (AUM) as at 30 June 2022. All figures above are in Australian dollars (currency exchange ratio of AU$1.000:NZ$1.1088 as at 30 June 2022). Numbers presented may not add up precisely to the totals provided due to rounding. AUM includes assets exchanged and yet to be settled, cash and other assets.
2. Operating EPS (OEPS) is calculated based on the Operating NPAT of the Group divided by the weighted average number of securities.
3. Includes $2,175m of acquisitions exchanged and settled in FY22, $403m of acquisitions exchanged in FY22 yet to be settled and $516m of real estate finance transactions.
4. Development projects and development capex pipeline, including fund throughs. Committed development pipeline $1.3bn, future pipeline $0.8bn.
5. Net valuation movement from managed funds.