Centro international property eyes off more platforms
Centro Properties Group is seeking stronger distribution for its Direct Property Fund International (DPFI), a cause furthered by the recent ‘recommended’ rating awarded by Zenith Partners.
The DPFI is currently listed on the platforms of BT, Macquarie, Navigator, NetWealth and AusMaq, while its domestic counterpart, the Centro Direct Property Fund (DPF), is on 10 platforms.
According to Allan Hayden, Centro’s manager — direct property funds, it is making a concerted effort to bring the DPFI’s platform exposure in line with that of the DPF by displaying strong performance and thereby achieving greater acceptance.
He said that the DPFI is structured in such a way to be platform friendly, on the basis that “80 per cent of inflows come through the platform/dealer group structure”.
With this in mind, Hayden is keen to communicate the benefits of the DPFI, which he said is differentiated from most other property funds in the Australian market because it comprises direct, international property whereas most only offer property securities.
He said there is a “scarcity of supply in Australia” of property funds that offer direct exposure, with the usual listed property trust offerings within balanced and growth portfolios displaying equity-style volatility.
“We have a strong belief in the benefits of direct property in a portfolio; it has low correlation to other assets,” Hayden said.
The latest rating from Zenith comes after the DPFI and the DPF were recently awarded an ‘upper recommended’ rating by Lonsec and re-notched as ‘superior’ by Managed Investments Assessments.
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