Instos buy up aviation assets
AMP Capital has increased its managed stake in Australia Pacific Airports Corporation (APAC), owner of Melbourne and Launceston Airports, by 3.5 per cent.
The financial deal for the $157 million stake has been closed, with AMP Capital now controlling 43.5 per cent of APAC on behalf of its funds and clients.
AMP Capital has had a long history investing in the aviation sector, having managed an investment in Melbourne Airport since 1997 and Launceston Airport since 1998. In 2012, AMP Capital acquired a 49 per cent interest in Newcastle International Airport in the UK.
AMP Capital head of infrastructure Australia and New Zealand Paul Foster said the purchase had been funded by a broad range of Australian superannuation fund clients which had a desire to increase exposure to infrastructure assets with proven returns.
"Melbourne Airport is one of the best performing airports in the world and it serves around 29 million domestic and international passengers per annum," he said.
Industry Funds Management (IFM) has also been buying up aviation stakes, increasing its 20.7 per cent stake in APAC to 23.7 per cent last week. It also increased its ownership of NT Airports from 55.6 per cent to 77.4 per cent, while acquiring a 35.5 per cent stake in Manchester Airports Group (M.A.G) earlier this month.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Passive investing is reshaping Australian equities, giving rise to a “no information trade” in which large-cap stocks swing sharply despite little or no fresh news.
RBA governor Michele Bullock warns of global trade risks as domestic inflation cools and employment remains near full capacity.
AMP chief economist Shane Oliver says investors should treat both extremes with scepticism after a week of starkly different climate projections.
The federal government’s new 2035 climate target is being billed as a signal to investors that Australia is serious about mobilising capital for the transition to net zero.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Loftus Peak Global Disruption Fund Hedged
118.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
75.00 3 y p.a(%)
3
DomaCom DFS Mortgage
67.30 3 y p.a(%)
4
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
61.11 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
60.93 3 y p.a(%)
