Property fund manager MacarthurCook Investment Managers has been given a top US award for its Asia Pacific real estate investment trust.
The fund manager won the 2007 Lipper Performance Achievement Certificate for topping the close-ended equity fund category in the US.
The RMR Asia Pacific Real Estate Fund is a joint venture between Melbourne-based MacarthurCook and Boston-based RMR Advisors.
The fund beat 26 listed competitors to deliver a return in excess of 40 per cent for the year ending December 31.
MacarthurCook managing director Craig Dunstan said the returns confirm the investment strategy of investing in Asia Pacific real estate securities.
“The Asian real estate markets are the world’s major real estate growth markets and this fund generated returns of over 40 per cent for its investors in its first year,” he said. “Despite global credit issues, the weight of population growth alone in Asia will continue to drive internal demand, an important factor contributing to world growth.”
Dunstan said the fund was designed to leverage off the Australian manager’s knowledge of the region and RMR’s access to US investment markets.
Despite the recent volatility in global markets, the fund is still delivering a total return of 19 per cent to date from its inception in May 2006, he said.
MacarthurCook now has about $1.5 billion in funds under management.
