MFS property arm changes name
There have been further changes within the troubled Gold Coast-based MFS Group, with the integrated property investment and development division, MFS Diversified Group, opting to change its name to GEO Property Group.
The company’s managing director and chief executive, Guy Farrands, said the change “reflects the reality of the financial and operational separation that exists between MFT and MFS”.
He said the group’s business structure and cultural focus would not be affected by the name change.
“This is a logical step for the group given it is financially independent from MFS Limited and is an important step in gaining greater control over how we are viewed by our key stakeholders,” Farrands said.
AUTHOR
Mike Taylor
Recommended for you
Evidentia Group has announced the appointment of a chief risk and operating officer, rounding out its executive leadership team after a slew of hires last month.
Family office Lederer Group has progressed its takeover bid for the Elanor Commercial Property Fund, lodging a bidder’s statement with ASIC as it says the fund has been “unable to agree” on negotiation terms.
Magellan Financial Group is keen to enact further strategic expansions with income from strategic partnerships tripling to $31.1 million from the addition of Vinva during FY25.
Outflows have doubled in the property and infrastructure space to $1.3 billion with advisers instead favouring private markets as Morningstar data finds active property funds are struggling to outperform.
