Century acquires $36.41 million in properties
Century Funds Management, OFM Investment Group’s newly acquired property funds management arm, has recently purchased two properties for $36.41 million.
The acquired assets are a $7.75 million office block in Artarmon, NSW, and a $28.66 million bulky goods retail centre in West Gosford, NSW.
The Artarmon purchase will feature in the Century Balanced Fund No 1, while the West Gosford centre has been structured as a standalone, close-end trust vehicle.
The acquisitions see Century’s total funds under management rise to $580 million.
Recommended for you
Adviser numbers have experienced their largest weekly loss year-to-date this week, doubling that of the previous week.
The number of advisers currently using or planning to use artificial intelligence in their practices has risen substantially to almost three-quarters of firms, according to Adviser Ratings.
Morningstar believes there is still further to run with the potential takeover of Insignia Financial even with original bidder Bain Capital walking away.
Large AFSLs with more than 100 advisers are seeing the largest losses in both adviser and AFSL numbers as individuals seek a smaller, personal vision in their work.
