Centuria’s unlisted funds lead quarterly index
Five unlisted Centuria Capital real estate funds have dominated the ‘Top 10 Performing Core Funds’ in the recently released Property Council of Australia / MSCI Australia Unlisted Retail Quarterly Property Fund Index (PCA/MSCI Index).
The March 2020 Quarter results showed a continuation of Centuria’s past performance, with 4-6 of the property company’s funds making a continuous appearance in the Top 10 for the past 15 quarters.
The Centuria ATP Fund topped the chart having delivered a 65.3% total annualised return within the past 12 months. This was followed by the Centuria 8 Central Avenue Fund No.2 in second position, delivering a 32% annualised total return.
Jason Huljich, Centuria’s Joint CEO, said, “We take pride in actively managing the $2.1 billion assets under management across our unlisted, retail portfolio and seeing our funds regularly appear in the PCA/MSCI Index is very encouraging.
“The index was established a year after Centuria was founded and during this time we have seen the unlisted sector’s sophistication continue to evolve. This is why it is such an honour to be included within the Top 10 funds again. It illustrates our strategic approach – to ensure our active asset management combined with conservative gearing levels – is proving to be a market-leading formula.”
Since the March Quarter 2020, all Centuria unlisted syndicates now pay monthly distributions in line with the industry’s best practice standards. Centuria’s unlisted funds include assets across the office, business park and healthcare property sectors.
Centuria Unlisted funds within the Top 10 for the March 2020 quarter, include:
|Rank||Fund||Assets||Annualised Total Return Performance in 12 months|
|1||Centuria Property Funds Centuria ATP Fund||Business park||65.3%|
|2||Centuria 8 Central Avenue Fund No.2||Single office building||32.0%|
|4||Centuria 203 Pacific Highway Fund||Single office building||19.3%|
|8||Centuria Havelock House Fund||Healthcare property||14.2%|
|10||Centuria Geelong Office Fund||Single office building||13.3%|
The collective value of the funds measured by the PCA/MSCI Index is c.$7.8 billion, of which Centuria’s syndicates comprise approximately 27%.
The PCA/MSCI Index measures the performance of 24 unlisted funds that have less than 20% development exposure and gearing under 50%. Currently, these core funds are operated by four leading Australian entities2.
1. Past performance is not a reliable indicator of future performance. Each fund managed by Centuria Property Funds will have different characteristics, properties and risk and should be assessed by an investor independently. None of the Centuria funds listed in this media release are open to investment and should not be relied on by investors when making a decision to invest in any of Centuria’s open funds. Investors should rely on information in a product disclosure statement of any fund open for investment.
2. Previous participants also include Folkestone Funds Management (until December 2018), CorVal Partners (until December 2018), Investec (until September 2017), MAB Funds Management (until June 2017) and Mair Property Funds (until June 2017).
Centuria Capital Group secures a $70.6million industrial logistics facility in North Rocks, NSW, on behalf of US private investment firm, Starwood Capital’s, Last Mile Logistics Partnership (LMLP).
Centuria Capital Group has successfully exchanged conditional contracts to divest two adjoining industrial facilities located at 114 and 120 Old Pittwater Road, Brookvale NSW, which is anticipated to deliver a forecast 13.8% IRR to the assets’ closed-ended fund investors.