News Round Up
Property investors diversifying, New listed property syndicate, Investor Interview: Andrew Evans, Index changes accelerated.
Monday, March 27th 2006, 5:10AM
Property investors appear to be paying heed to the warnings of the Reserve Bank not to put all their eggs in one basket.The latest ANZ/ NZPIF Property Investment Survey shows more than half intend to diversify away from property.
Only 1% of respondents expect prices to continue to increase at the rate of the last two years, while more than 40% expect prices to stagnate or fall. [MORE]
New listed property syndicate
Australian fund manager WRF Securities has launched its WRF X-One Property Syndicate in New Zealand.
The syndicate incorporates two properties into one investment. The properties include a multi-level commercial office building in a prime CBD location in Adelaide and a well-established retail shopping centre in coastal NSW.
The expected distributions start at 8.3% for the first full financial year and are projected to increase to 9.3% in the final year of the syndicate, WRF says.
The X-One syndicate will be the first ever property syndicate to be listed on the Australia Pacific Exchange (APX), thus providing investors with a secondary market to trade units.
Investor Interview: ING Property's Andrew Evans
ING Property Trust Management managing director Andrew Evans gives Jenny Ruth the answers to your questions in this
Sharechat Investor Interview.
Investment business helps Fidelity
Fidelity Life has reported another strong profit, boosted by its growing investment business. [MORE]
Index changes accelerated
The New Zealand Refining has had its inclusion in the NZX 50 Index expedited, and Skellerup Holdings is to be added to the NZX 50 Index.
These index changes result from Rank Group's takeover offer for all the shares on issue of Carter Holt Harvey passing the crucial 90% threshold last week.
NZX had previously announced that NZ Refining was to be added to the NZX 50 Index on April 3. Meanwhile, Skellerup is the new company to be added to the NZX 50 Index filling the vacancy created by the removal of AXA.
I wanted to recount a discussion I had the other day with an adviser – or to be more correct someone who has been an adviser - but is still involved in the industry. [READ ON].
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