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Record growth for Trinity
David Asplin
Trinity Property Trust (TPT) has reported strong end of year results, having achieved its benchmark total return in excess of 12 per cent for the 2008 financial year.
TPT also announced that industry super fund Sunsuper has increased its longstanding investment in the company by an additional $100 million.
TPT, an open-ended, core plus total return fund focused on diversified assets has delivered a total return since its inception in 1999 of 12.55 per cent and currently has a diversified portfolio of 235 properties.
Trinity’s head of funds management and property Bruce Baker said the additional investment from Sunsuper was further endorsement of its 10-year track record and its potential to outperform in a volatile market.
“The increased investment from Sunsuper is astute, as it will allow TPT to capitalise on opportunities in the property sector as the market continues to re-price to the ongoing effects of the global credit crisis for the benefit of its investors.”
Trinity Funds Management head of distribution David Asplin said the equity injection from Sunsuper was well timed for TPT to capture investment opportunities beginning to emerge from the current market.
Sunsuper chief investment officer David Hartley said: “We recognise that the current market conditions will create opportunities and we’re confident that Sunsuper’s members will benefit via TPT’s targeted acquisition strategy and active hands-on management,” he said.
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