Category Archives: Funds

Outlook for Aussie Reits improving

Posted on 20 Oct 2009 | Comments Off on Outlook for Aussie Reits improving

The outlook for Australian listed property trusts is improving as the nation’s currency strengthens and the local economy weathers the global recession, according to AMP Capital Brookfield.

Companies that raised capital through share offerings and sales of overseas assets will start to buy real estate assets from local private sellers, said Kim Redding, chief investment officer of AMP Capital Brookfield, a A$6 billion (S$7.7 billion) partnership formed this month between AMP Capital Investors and Brookfield Investment Management to invest in global listed real estate trusts.

‘Australia stands out like a beacon because the yields here are much greater than other parts of the world,’ Chicago- based Redding said at a media briefing in Sydney yesterday. ‘If you like the Aussie dollar and you like yield, Australian LPTs would be a pretty good place to be.’ Australia’s listed property companies are vying to return to profitability after the 16 members of the S&P/ASX 200 A-Reit Index reported combined losses of A$19.5 billion and writedowns of A$21.7 billion in the year to June 30, according to data compiled by Bloomberg. Continue reading →

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A-Reit property income up 11.7% for Q2

Posted on 20 Oct 2009 | Comments Off on A-Reit property income up 11.7% for Q2

DPU falls as equity base grows after fund-raising, occupancy slips

ASCENDAS Real Estate Investment Trust (A-Reit) yesterday reported a net property income of $81.1 million for the second quarter ended Sept 30 – up 11.7 per cent from a year ago.

Diversified: A-Reit’s portfolio holds 90 properties, including the Infineon Technologies builidng

Distributable income also increased as a result, rising 15.4 per cent from the same period last year to $61.6 million.

But distributable income per unit (DPU) dropped as the unit base grew from equity fund-raising. A-Reit’s DPU for Q2 came to 3.48 cents, down 13.2 per cent from 4.01 cents a year ago.

On a proforma basis, adjusting for the increased number of units, DPU for Q2 last year would have been 3.02 cents. This would mean a gain instead of 15.2 per cent.

For the half year ended Sept 30, A-Reit’s net property income rose 13.7 per cent from a year ago to $161.8 million. Distributable income grew 16.6 per cent to $122.6 million.

The half-year DPU stood at 7.1 cents – 10 per cent less than the 7.9 cents a year ago. Again adjusting for new units issued, the proforma DPU last year would have been 6.09 cents, leading to a 16.6 per cent gain. Continue reading →

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