Charter Hall Direct has announced that a suite of its open unlisted property funds have received positive ratings from Lonsec and Zenith.
Also, three new funds (Charter Hall Direct Office Fund, Charter Hall Direct Industrial Fund No. 4 and Charter Hall Direct PFA Fund) had been added to the investment platform, Asgard.
Following this, the firm confirmed that its PFA Fund, which aimed to acquire and manage a portfolio of assets located in emerging or established Australian office markets, was granted a ‘recommended’ rating from Zenith while the Diversified Consumer Staples Fund was ‘recommended’ by Lonsec.
In addition to that, Zenith also recommended the Charter Hall Direct Industrial Fund no. 4, acknowledging the fund’s focus on “targeting assets with strong tenant covenants on long-term leases.”
“We are pleased to receive the continued support from ratings agencies and financial advisers. The strong inflow of investments into the direct funds management business and our liability to deploy this capital into high quality assets reflects the quality of the funds we offer and the Charter Hall track record and reputation,” Charter hall Direct’s head, Steven Bennett, said.
Charter Hall has currently $4.5 billion in funds under management.