Boutique set to launch and list
Boutiqueproperty fund manager MacarthurCook Investment Management will launch its first funds before the end of the calendar year, almost a year after former head ofAustralian Unity Funds Management, Craig Dunstan, launched the Melbourne-based firm.
Dunstan, who is managing director, says the company is focusing on launching an industrial and healthcare properties based fund.
“We will be launching a sector-specific, open-ended unlisted property fund. This will be followed by another fund to be launched in the early part of next year,” he says.
MacarthurCook is also aiming to re-list on theASXthis week following a move by the group to expand its share register — the fund manager recently merged with listed Local Telecom & Internet in a bid to obtain a back-door listing.
However, the ASX insisted on a greater spread of shareholders, and at the end of August, MacarthurCook secured 500 new shareholders.
“We were very pleased with the level of support we received as the prospectus only needed to find 400 shareholders holding $2,000 in shares,” he says.
“We closed the prospectus with 500 such shareholders and we expect the company to re-list [this week].”
In a separate move, MacarthurCook has recruited Chris Calvert from Industry Superannuation Property Trust (ISPT) as its new head of property.
Recommended for you
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
