unappealing announcement?, page-4

Hi CJC

Would be interested to know your thoughts on whether a property security fund like this can work. And why did AMP's desperation help?

Seems to me that in the absence of a controlling interest there is a limit to the value they can add to an investment - so the impact is negative due to the extra layer of their costs.

In cases where they do have influence (eg MC Office Fund and AIMS Fund) we have yet to see a proven value add (except to their own management fees) but they may be able to do something with them eventually. (Says he...optomistically)

Alf