Aust Unity gears up for property
Australian Unity had added to its portfolio of property funds with the launch of a geared property income fund.
The new fund will invest in the property fund manager’s ungeared Property Income Fund, but with a target gearing rate of 45 per cent.
Australian Unity investments general manager David Bryant said the new fund aims to provide investors with long-term capital growth plus quarterly income.
“The underlying fund is a true-to-label, hybrid fund and its combination of direct property (60 per cent), listed property (35 per cent) and cash (5 per cent) investments means it offers diversification and liquidity,” he said.
The Property Income Fund, which was opened to retail investors in February, has already attracted inflows of $42 million and has achieved a 12 month-return of 16.5 per cent.
Bryant said the income fund is suitable for a range of investors, including those with self-managed superannuation funds and those seeking an income and long-term capital growth component from their portfolio.
“Our Geared Property Income Fund, because of its leveraged characteristics, might help improve the performance of such portfolios,” he said.
Australian Unity, which has a total of $2.7 billion of funds under management, manages a $650 million direct property portfolio.
Recommended for you
Evidentia’s chief investment strategist Nathan Lim has announced his retirement after a 30-year career.
GQG Partners has marked its fifth consecutive month of outflows as its AI concerns lead to fund underperformance but overall funds under management increased to US$166.1 billion.
Apostle Funds Management is actively pursuing further partnerships in Asia and Europe but finding a suitable manager is a “needle in a haystack”.
Managed account provider Trellia Wealth Partners, formed from the merger between Betashares and InvestSense, has appointed its first managing partner.
