Not sure if this info has been posted previously, but I think is relevant. Rider
Super news 14.04.10 - AustralianSuper makes a significant investment in retail property Author: AustralianSuper
AustralianSuper has recently made a significant addition to our unlisted property investment portfolio, with our investment of $500 million in the QIC Global Real Estates QIC Property Fund (QPF).
Super regional shopping centres This Fund focuses on investment in shopping centres in eastern seaboard population growth corridors. Current properties in the fund include well-known shopping centres such as Castle Towers in Sydneys north-western suburbs, Robina Town Centre in Queensland and the Watergardens shopping centre in Melbournes western suburbs and the Canberra Centre.
AustralianSuper had been looking to increase the proportion of prime retail property within our property portfolio, so we were very pleased to have gained access to this investment opportunity.
Large shopping centres particularly in growing regional areas - are a very highly sought after and attractive sector of the property investment market. Returns from these types of assets held up very well during the global financial crisis.
A record of superior returns Since the inception of the QPF in 1990 the Fund has provided returns significantly higher than benchmark over every period, and they have fluctuated less than those from other property investments.
At this stage our investment in QPF comprises approximately 15% of AustralianSupers total property investment and it will form part of our long-term investment portfolio of unlisted property assets. Based on AustralianSupers asset allocation at 31 December 2009, it will increase our Balanced options allocation to property from 10% to 11.7% and AustralianSupers total investment in property from 9.0% to 10.6%.
CNP Price at posting:
26.0¢ Sentiment: LT Buy Disclosure: Held
