Lonsec gives thumbs up to Multiplex trust
Research houseLonsechas put out a recommendation on the Multiplex Development Trust II after reviewing the property fund.
Lonsec recommends the fund because it says it is a well designed equity product, and because returns are said to be favourable to investors and that they are expected to be higher than the benchmark.
The fund will raise a minimum of $25 million and aims for an ambitious 20 per cent per annum in equity returns before tax, or 25 per cent before tax. It will also have minimum distributions of 7.7 per cent per year until December 2003, while anything above this figure will depend on timings of property sales.
Multiplex Constructions has more than $225 million in assets, says Lonsec and a construction order book of more than $4 billion.
The minimum investment in the fund is $50,000, and minimum investment term until the end of 2004.
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