Challenger enters strategic alliance
Challenger has entered a strategic alliance with US-based investment manager Heitman to establish a global real estate investment product.
Real estate securities co-heads, John Longo and John White, will work with Heitman to establish the product as a strategic complement to Challenger’s domestic property securities offering.
In terms of the alliance, Heitman will manage the North American and European components of the product portfolio, while Challenger will manage the Australia and Asian component, which already comprises an initial investment mandate of more than US$75million.
Challenger chief executive funds management Rob Adams said the alliance will offer a range of high quality global real estate investments to Australian institutional and retail investors.
“In a listed property trust market that is mature by world standards, we continue to see demand for property securities funds with exposure to both domestic and international markets.”
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.
