Diversity drives new property fund
Boutique property fund manager MacarthurCook has launched a diversified property fund.
The Diversified Property Income Fund will have a 40 per cent investment in the ASX-listed MacarthurCook Property Securities Fund which has investments in 28 different property funds.
The boutique’s managing director Craig Dunstan says the new fund has been launched for investors who don’t want a sector specific property fund.
“It is a fund of funds that has been developed in response to requests from financial planners for a more broadly based property investment fund,” he said.
“It has the added attraction of allowing redemptions at will and providing income payments monthly.”
Dunstan said with more retail inflows going through platforms, the fund manager needed to create a fund that gives returns and tax advantages associated with direct property while providing clients with liquidity.
The new fund will pay an up front fee of 4 per cent and a trail of 0.25 per cent to advisers.
Meanwhile, MacarthurCook has added a new fund manager to its Property Securities Fund.
The fund has placed $5 million with the Australian Unity Wholesale Property Income Fund as part of an $18 million expansion of investments.
The other investments have been to existing fund managers in the securities fund. These include an additional $3.1 million to the MAB Diversified Property Trust, $5 million to PFA Diversified Property Trust, $2.2 million to the Cromwell Diversified Property Trust and $3 million to the SAITeysMcMahon Childcare Property Trust.
The MacarthurCook fund now has $85 million of assets in listed and unlisted property trusts.
Total funds under management at the boutique property manager now stand at about $600 million
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