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AMP Capital has raised more than $1.3 billion across its flagship unlisted property funds from Australian and offshore investors so far this year.
Capital flows have been strong across both domestic and offshore wholesale investors. Flagship wholesale funds such as AMP Capital Diversified Property Fund (ADPF) and AMP Capital Wholesale Office Fund (AWOF) have been particularly attractive to investors focused on income distribution and Australian retail investors have strongly supported the AMP Capital Wholesale Australian Property Fund (WAPF) for the same reason.
AMP Capital Head of Real Estate Funds Management Chris Judd said that each of the funds have been focused on executing clearly defined strategies and the investor support achieved is an endorsement of the team’s efforts in delivering on these outcomes.
Mr Judd said: “We are extremely pleased with the support we’ve enjoyed for our property funds this year. We appreciate the level of trust and confidence being placed by investors in AMP Capital’s real estate funds management capability. There has been a queue of investors waiting to gain access to our pooled funds and we are particularly pleased to welcome them through our capital raising initiatives.
“The strong investor support we’ve seen will enable ADPF, AWOF and ASCF to fund their development pipelines and further enhance the portfolios’ retail, office and industrial exposure over time. Successful completion of developments such as Macquarie Shopping Centre in Sydney and Pacific Fair at the Gold Coast has delivered strong investment performance for our clients. The wholesale funds, as well as WAPF are lowly geared, have strong balance sheets and are subsequently well placed to deliver improved assets and investment performance to our investors.
“Our very high-quality portfolio and very low vacancy rates, ahead of national averages, underline our strong management capability. Our property funds have capitalised on the demand for high-quality real estate assets in Australia among both domestic and offshore investors and we expect this to continue."
While every care has been taken in the preparation of this article, AMP Capital Investors Limited (ABN 59 001 777 591, AFSL 232497) and AMP Capital Funds Management Limited (ABN 15 159 557 721, AFSL 426455) makes no representations or warranties as to the accuracy or completeness of any statement in it including, without limitation, any forecasts. Past performance is not a reliable indicator of future performance. This article has been prepared for the purpose of providing general information, without taking account of any particular investor’s objectives, financial situation or needs. An investor should, before making any investment decisions, consider the appropriateness of the information in this article, and seek professional advice, having regard to the investor’s objectives, financial situation and needs. This article is solely for the use of the party to whom it is provided.