Boutique set to launch and list
Boutiqueproperty fund manager MacarthurCook Investment Management will launch its first funds before the end of the calendar year, almost a year after former head ofAustralian Unity Funds Management, Craig Dunstan, launched the Melbourne-based firm.
Dunstan, who is managing director, says the company is focusing on launching an industrial and healthcare properties based fund.
“We will be launching a sector-specific, open-ended unlisted property fund. This will be followed by another fund to be launched in the early part of next year,” he says.
MacarthurCook is also aiming to re-list on theASXthis week following a move by the group to expand its share register — the fund manager recently merged with listed Local Telecom & Internet in a bid to obtain a back-door listing.
However, the ASX insisted on a greater spread of shareholders, and at the end of August, MacarthurCook secured 500 new shareholders.
“We were very pleased with the level of support we received as the prospectus only needed to find 400 shareholders holding $2,000 in shares,” he says.
“We closed the prospectus with 500 such shareholders and we expect the company to re-list [this week].”
In a separate move, MacarthurCook has recruited Chris Calvert from Industry Superannuation Property Trust (ISPT) as its new head of property.
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.