This article is from the Australian Property Journal archive
CENTURIA Property Funds is taking capitalising on investors appetite by launching a new unlisted vehicle, the Centuria Diversified Property Fund.
CEO John McBain said whilst Centuria has had overwhelming demand for single asset syndicates, investors and financial planners have expressed strong demand for an open-ended fund.
“This fund, in due course, should be able to access the approved products lists of large dealer groups and wrap account platforms who require an open ended style of property investment product.
“The fund is a multi-asset, open-ended unlisted property fund.
“The last six months has been a transformational period for Centuria. 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.
Funds management was one of the star performers for Centuria in the first half year.
In the six months to December 31, Centuria grew its funds under management by 95% to $3.7 billion
Centuria has forecast an operating NPAT of $14.9 million and EPS of 9.9 cents per security and DPS of 7.5 cps for FY17.
Australian Property Journal
