Multiplex Diversified Property Fund to be wound up
The Multiplex Diversified Property Fund (MDPF) is to be wound up, with investors to have the option of receiving assets as cash or in-specie distribution, according to Brookfield Multiplex Capital Management.
The fund's original mandate was true diversification, according to Brookfield. The board of directors felt that more capital would be required to achieve this diversification, which the fund was not capable of achieving in the current economic climate, the company said. As such, the board considered that winding up the fund was in the best interest of all unit holders.
The MDPF holds about $25.2 million in funds under management from predominantly retail and platform investors. Upon in-specie distribution unit holders in the MDPF will acquire direct ownership of the units in the MDPF.
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