Over Fifty Group prepares to launch unlisted commercial property fund
Over Fifty Group (OFG) is preparing to launch the first in a new series of unlisted commercial property funds in the belief that property yields for long-term investments are moving back into fair value.
OFG chief executive John McBain said there was excellent support for those investments from advisers wanting to gain exposure to direct property and from their existing client base.
The company has reduced its corporate debt by $4.5 million in the last six months. It has also sold one of its properties for $15.8 million and secured an eight-year lease on another property.
The company hopes to reduce its debt by a further $9 million over the next six months, McBain said.
Recommended for you
The CEO of L1 Group, formerly known as Platinum Asset Management, has stepped down with immediate effect, and the asset manager has announced his replacement.
Private equity manager Scarcity Partners has backed a specialist investment manager focused on metals and mining, seeking to meet investor demand for real assets.
UK fund manager Aberdeen Investments has launched an emerging market equity strategy for Australian investors, broadening the reach of an existing strategy.
Passive ETFs are seeing stronger flows than their active counterparts despite the proliferation of active launches this year, according to Morningstar.
