Century acquires $36.41 million in properties
Century Funds Management, OFM Investment Group’s newly acquired property funds management arm, has recently purchased two properties for $36.41 million.
The acquired assets are a $7.75 million office block in Artarmon, NSW, and a $28.66 million bulky goods retail centre in West Gosford, NSW.
The Artarmon purchase will feature in the Century Balanced Fund No 1, while the West Gosford centre has been structured as a standalone, close-end trust vehicle.
The acquisitions see Century’s total funds under management rise to $580 million.
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
