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There is now obviously lots of 'sideline money' looking to get into the market at present from the large Fund Managers that have sat out the past six months or so.

With many of the larger REITs now having completed their balance sheet restructuring there are fewer opportunities for these Fund Managers to get in on the ST re-rating ride.

In the larger category of REITs, MOF must present one of the last opportunities for this money to get some ST capital appreciation from balance sheet de-risking (either through asset sales or participating in cap raising).

Look how well GPT, GMG, SGP, CHC, FKP, etc, etc have done AFTER their respective de-risking initiatives.

If you were a Fund Manager that had missed the boat you'd be kicking yourself and looking hard for the remaining opportunities.

MOF may well represent this and, although the SP has been frustrating it must start to rise soon... The trend is starting to look good.

Cheers
John