MacCookPSF – BT
MacCook PSF profit jumps 136%
Total return to S’pore investors since the fund’s listing was almost 14%
MACARTHURCOOK Property Securities Fund yesterday reported a net profit of A$34.3 million (S$42.6 million) for the year ended June 30, 2007 – an increase of 136 per cent year on year. Earnings per unit on a weighted basis were 25.6 Australian cents, compared with 13.4 Australian cents the previous year.
The total return to Singapore unitholders from the fund’s listing on Dec 22, 2006 to June 30, 2007 was almost 14 per cent – comprising 4.3 per cent distribution return and 9.6 per cent growth return.
The fund is also listed on the Australian Stock Exchange.
Net tangible asset backing was about 13 per cent higher at A$1.11 per unit as at June 30 versus a year earlier.
The fund has A$235 million invested among 52 listed and unlisted property trusts managed by 28 real estate investment managers.
About 75 per cent its assets in terms of value are concentrated in Australia. The remaining exposure is spread over the United States (14 per cent), Europe (8 per cent), Japan (2 per cent) and New Zealand (one per cent).
About 39 per cent of the fund’s investment is in office space, 32 per cent in retail space and 12 per cent in industrial space. The remaining investments are spread over hotel, residential, childcare, healthcare and other property.
The fund’s strategy of investing in stable, long-term, low-risk assets is aimed at investors looking for income yield.
Distribution per unit for FY2008 is forecast to be 11.4 cents for Singapore investors.