This article is from the Australian Property Journal archive
ASIAN real estate fund managers have amassed $US178.6 billion in assets in Asia Pacific with AMP Capital Investors jumping to third place in the region, according to an industry peak body.
In the latest Asian Association for Investors in Non-listed Real Estate Vehicles survey, 48 respondents revealed they manage $US761.0 billion of real estate assets under management worldwide, of which $US178.6 billion is in Asia Pacific.
Altogether they manage 188 non-listed funds in Asia and 763 indirect vehicles globally.
The 2010 survey results, based on 30 June figures show that Morgan Stanley remains the largest real estate fund manager in Asia, with assets under management of $US19.5 billion, followed by Singapore’s CapitaLand Financial, with $US16.0 billion.
Meanwhile Australia’s AMP Capital Advisors has climbed up the ladder and is the third largest with $US12.4 billion. A recent survey by PIR also shows AMP Capital Investors is the second largest asset manager in Australia behind Westfield.
ANREV executive director Jeremy Stewardson said the annual survey gives a clearer picture of the size and composition of the fund manager market in Asia.
“It also adds to the transparency of the market on an individual level with investors and fund managers able to understand more about the main players in the market,” he added.
The fund manager with the largest global holdings is ING Real Estate Investment Management with $US87.1 billion of real estate assets under management worldwide, of which $US10.4 billion is in Asia Pacific.
The survey also found that 83.6% of investors in non-listed real estate funds were institutional investors with only 8.0% of investment coming from retail investors.
The remainder is manager co-investment. The largest single type of institutional investor was pension funds, comprising 43% of the total investment.
The risk profile of Asian property funds is fairly diverse between core, value-added and opportunity funds. Core is the preferred approach at 40.8% whilst opportunity is the second most common style at 38.5% of funds investing in Asia Pacific.
Australian Property Journal
