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
Equity Trustees has paid three infringement notices issued by ASIC in which the corporate regulator alleged it made misleading statement about investments in a sustainable bond fund.
Only three active asset managers are forecast to see positive flows through to FY29, according to Morningstar, with those focused on specialist fixed income in the best position as investors move to defensive asset allocations.
Platinum Asset Management has provided an update on the possibility of a merger with asset manager L1 Capital following a period of due diligence.
Fund manager Pacific Current has appointed a former superannuation chief executive as its newest chair, succeeding Tony Robinson who departs after almost a decade to focus on his role at COG Financial.
