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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."
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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.