Perennial to manage AMP’s Future Directions
AMP Capital Investors has appointed Perennial Real Estate as a manager of its Future Directions Property Fund on the strength of its investment team.
“Occasionally, you come across a great investment team and it’s a very compelling story,” said Sean Henaghan, AMP Capital Investors’ investment director for the Future Directions Fund and international.
Perennial Real Estate managing director Stephen Hayes believes the appointment was because of his team’s positive past performances and would help create further growth prospects for his company.
“The team has a track record for being a leading performer in this asset class,” he said.
He added that there were strong investment opportunities available in the global property securities market.
“The securitisation of global property assets is occurring rapidly and we expect this to be a $US1 trillion sector within the next five to 10 years,” Hayes said.
“Given the levels of securitisation within Australia, which are the highest in the world, this market is already quite mature.
“The more compelling investments are now offshore, where quality real estate is being placed in the hands of good management with ready access to capital.”
Perennial Real Estate specialises in the active management of domestic and global property securities and is one of six investment boutiques within the Perennial Investment Partners Group.
As at June 30, Perennial Real Estate had existing and committed funds of more than $1.5 billion.
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