BT brings property back into the fold
BTFinancialGrouphas replaced Principal Global Investors (PGI) as the investment manager for more than $500 million of its listed property trust assets by bringing its management in-house.
BT had been considering its options since the Principal property team of Stuart Stuckey, Mark Thorpe-Apps and Ern Koh announced their resignation in April to set up boutique property group Pengana Capital.
The portfolio will be managed by BT’s head of listed property Antoinette Plater, who will employ the same active investment process and style the fund offered previously.
BT’s view was that it was in its unit holder’s interests to bring the portfolio back into the BT fold.
Plater has 21 years’ experience in investment analysis and portfolio management, including six years in theSagitta RothschildListed Property Securities team as analyst and portfolio manager.
Plater is supported by property analysts, Antony Knep and Julia Forrest, who bring a combined 20 years’ experience in Australian property securities.
PGI’s direct and listed property operations were the only parts of the BT group not to merge with Westpac when Principal in the US sold BT in August 2001.
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