AMP Capital has announced the retirement of its longest serving fund manager, Louise Joslin.
Ms Joslin, Fund Manager of the AMP Capital Diversified Property Fund (ADPF), will retire mid-2015 after a 34-year career in the property industry including 20 years at AMP Capital. An internal and external recruitment process has commenced and once a replacement is appointed, Ms Joslin will work with her successor to effect a seamless transition.
Joining in 1995, Ms Joslin’s time with AMP Capital includes nine years as Fund Manager of the flagship Australian Core Property Portfolio and in late 2014 she was integral to the acquisition of $4 billion of assets by ADPF and a successful capital raising by the Fund. Ms Joslin is also a former Director and NSW President of the Property Council of Australia.
AMP Capital Head of Property Funds Management Chris Judd paid tribute to the significant contribution Ms Joslin has made to the business.
“Over the years, Louise has delivered time and again for our investors and our business, always with a high standard of excellence, a dedicated focus on performance, and an unshakeable commitment to governance and integrity.”
Mr Judd said that ADPF’s new Fund Manager, with the support of Senior Property Fund Analyst Julian Menegazzo and the broad capability of the AMP Capital Property Team, will continue working together to provide investors with consistent investment returns over the long term.
“We are commited to ensuring ADPF realises its full potential and the AMP Capital Property Team is looking forward to ensuring the portfolio’s assets are well positioned for future performance,” Mr Judd continued.
One of the largest, unlisted property funds in the country, ADPF has total assets of $4 billion and currently comprises 18 high quality assets across the Australian office, retail and industrial property sectors, as well as units in the AMP Capital Shopping Centre Fund and AMP Capital Wholesale Office Fund. This includes the newly-developed Macquarie Centre in Sydney, Pacific Fair on Queensland’s Gold Coast, which is currently undergoing significant re-development, and potential developments at Garden City Booragoon in Western Australia and Quay Quarter Sydney.
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