This article is from the Australian Property Journal archive
CHRIS Brockett will be stepping down from his position of fund manager at Dexus Convenience Retail REIT (ASX: DXC), effective 11 May 2022.
Brockett has been in the role for more than five years, before the REIT was listed on the ASX in July 2017.
“Having been fund manager since prior to the listing of DXC five years ago, I have made the personal decision to step down from my role and pass the leadership to a new fund manager to capitalise on future growth opportunities for the fund,” said Brockett.
The REIT just last week posted positive results for the first half, with a 25.9% increase to funds from acquisitions and a 90% boost to statutory net profit.
This was driven largely by $21.1 million of valuation gains on investment properties in its $803 million portfolio.
“On behalf of DXC’s Security holders and the Board of DXAM I would like to acknowledge Chris’s dedication and leadership of DXC. I would like to thank him for his strong contribution to the success of the fund and wish him all the best for the future,” said Geoff Brunsdon, chairman of Dexus Asset Management Limited (DXAM).
Brunsdon himself also announced his retirement this month, effective from 28 February, after serving as an independent director for 12 years and chairman for nine years.
A recruitment process is currently underway to fill Brockett’s position, DXC is evaluating both internal and external candidates for the role.
“We would like to thank Chris for his contribution to the fund and for the successful integration of DXC onto the Dexus platform. We believe there are significant opportunities that lie ahead for the convenience retail asset class and are focused on an orderly transition to a new fund manager,” concluded Darren Steinberg, CEO of DXAM.
