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.
This article has been prepared to provide general information and does not constitute 'financial advice' for the purposes of the Financial Advisors Act 2008 (Act). An individual investor should, before making any investment decisions, consider the information available in the relevant Product Disclosure Statement and seek professional advice. While every care has been taken in the preparation of this document, AMP Capital Investors (New Zealand) Limited and the AMP Group (together, 'AMP') make no guarantee that the information supplied is accurate, complete or timely and do not make any warranties or representations in respect of results gained from its use. The information is not intended to infer that current or past returns are indicative of future returns. The views expressed are those of the author and do not necessarily reflect those of AMP. These views are subject to change depending on market conditions and other factors.