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Survey reveals property funds assets

AUSTRALIA’S 120 property fund mangers manage more than 400 direct and indirect property funds with total assets of $95 billion for more than 800,000 investors, according to a survey by Property Investment Research outlined in the Directory of Australian Property Funds and Managers.

PIR managing director Richard Cruickshank said that despite substantial growth in managed property funds over the past decade, more than 80 per cent of private investment was still directly in residential rental property.

“There is plenty of scope for future growth in managed property funds, fund managers have only just begun to penetrate their potential investor base and have the capacity to increase sales exponentially,” he said.

“The industry must demonstrate a high degree of credibility and prove both superior performance and the advantages of such managed investments.

“The recent introduction of the Managed Investment Act should go a long way towards providing investors with greater comfort when making future investments.”

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