Property trust downgrades valuations
The Australian Commercial Property Trust (ACPT) has downgraded the value of its property portfolio by 5.6 per cent for the six months to December 31, 2008.
The responsible entity of ACPT has undertaken a review of the portfolio in preparation for the release of its financial report for the half year to December 31, 2008. The responsible entity of the portfolio said “given the current conditions in the Australian property market”, a reduction in property values of $16,740,000, or 5.6 per cent, was appropriate.
Following the reduction in property valuations the ACPT is valued at more than $282 million dollars.
Recommended for you
Natixis Investment Managers has hired a distribution director to specifically focus on the firm’s work with research firms and consultants.
The use of total portfolio approaches by asset allocators is putting pressure on fund managers with outperformance being “no longer sufficient” when it comes to fund development.
With evergreen funds being used by financial advisers for their liquidity benefits, Harbourvest is forecasting they are set to grow by around 20 per cent a year to surpass US$1 trillion by 2029.
Total monthly ETF inflows declined by 28 per cent from highs in November with Vanguard’s $21bn Australian Shares ETF faring worst in outflows.
