Charter Hall see FUM rise 17% in 1H FY2016
Property fund manager, Charter Hall is upgrading its financial year 2016 (FY2016) guidance for operating earnings per security (OEPS) to between eight and 10 per cent growth over FY2015, following a strong first half performance.
The fund manager saw funds under management climb by 17 per cent to $15.9 billion in the six months to 31 December 2015.
Charter Hall chief executive, David Harrison, said the firms property investment portfolio generated 26.3 per cent increase in operating earnings to $35.8 million, with the property funds management portfolio delivering $1.3 billion of gross rental income.
"Performance is essential for an investment manager, and we are pleased to report a 12 month total return of 24.5 per cent and a record 17 per cent growth in funds under management," he said.
"The group continues to create investment grade properties adding significant value through enhancing both income yield and total returns for its funds.
"We remain in a strong position to continue to access, deploy, manage and invest equity from listed, retail and wholesale sources.
"The group continues to deliver sustainable and growing returns for its investors through a firm focus on strong fund performance, creating high quality investment products and providing and environment for our people that creates an inclusive culture, fostering diversity and innovative thinking.
"Absent any unexpected events, Charter Hall's guidance for FY2016 OEPS is upgraded to eight to 10 per cent growth over FY2015."
AUTHOR
Nicholas O'Donoghue
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