AUI proposes property fund merger
Australian Unity Investments is seeking approval from stakeholders in one of its commercial trusts to merge the trust with another of its larger funds.
In a statement released today, AUI announced it is proposing to merge the Australian Unity Fifth Commercial Trust (FCT) with the “larger, more diversified” Australian Unity Office Property Fund (OPF), and is seeking approval of the deal by investors.
“We believe the proposal is in the best interests of investors in FCT and will deliver a number of key benefits,” said AUI general manager, real estate investment, Mark Pratt.
“OPF is forecast to provide higher distribution returns than those forecast for FCT, has greater diversification than FCT, and intends to continue providing regular capped withdrawal opportunities to investors.
“Investors will have the ability to continue their exposure to the property market via an investment in the OPF – a diversified fund open to new investment that has been operating for more than eight years.”
Lonsec expands leadership to meet growing demand
Research house Lonsec has reshuffled its research team as it aims to meet a grow...
MP flags concerns licensees can’t deal with advice risks
ASIC has been questioned by a government MP over concerns whether any advice lic...
FPA calls advice ‘almost unworkable’ in TPB review
The Financial Planning Association of Australia has thrown its support behind th...