IFM, ISPT form global unlisted real estate JV
IFM Investors and Industry Super Property Trust (ISPT) have set up a new joint venture, International Property Funds Management (IPFM), that will specialise exclusively on managing international unlisted real estate on behalf of institutional investors.
IPFM CEO Tony McCormack said the 50/50 joint venture, which would formally launch in the third quarter of 2018, would initially provide Australian institutions with competitive risk-adjusted returns, driven by the “investor first” culture of its foundation partners.
“IPFM will provide institutional investors with a unique pathway into offshore real estate, premised on best-of-breed transaction execution and asset management, as well as a highly competitive fee model to ensure maximum benefits are passed back to investors,” McCormack said.
“IFM Investors and ISPT, each distinguished by an investor-owned structure and long-term investment approach, bring natural benefits to IPFM including an ability to leverage IFM Investors’ established global reach and ISPT’s property investment and asset management expertise.”
Initially, IPFM would target diversified property investments with a focus on core, income-producing assets. It would directly pursue both on-market and off-market opportunities, tapping into a large network of local market relationships across a focused short-list of target markets.
The IPFM team, led by McCormack, was currently establishing its first investment strategy, which would be a diversified pooled fund that would initially focus on core properties in pan-European gateway cities.
Recommended for you
Australia’s largest super funds have deepened private markets exposure, scaled internal investment capability, and balanced liquidity as competition and consolidation intensify.
The ATO has revealed nearly $19 billion in lost and unclaimed super, urging over 7 million Australians to reclaim their savings.
The industry super fund has launched a new digital experience designed to make retirement preparation simpler and more personalised for its members.
A hold in the cash rate during the upcoming November monetary policy meeting appears to now be a certainty off the back of skyrocketing inflation during the September quarter.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
225.31 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
120.73 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
61.94 3 y p.a(%)
