This article is from the Australian Property Journal archive
Unit holders in the City Pacific Mortgage Trust have overwhelming voted for a proposed amendment to the trust’s constitution.
The change standardizes the withdrawal periods in the trust.
More than 97% of unit holder supported in favour of the resolution, the trust will continue to offer the Premium Investment, 90 days, 180 days, 12 months and 24 months fixed term investments.
City Pacific chief executive Phil Sullivan said the response from unit holders demonstrates resounding support for management and the operations of the trust.
City Pacific’s Mortgage Trust, which has approximately $1 billion in funds under management, has continually provided above average returns on a pool of registered first mortgage investments.
“City Pacific continues to source attractive investment opportunities for the Trust. We believe this provides a strong platform for growth and look forward to continuing our record of superior returns for stakeholders,” he added.
By Kathryn O’Meara
