AMP Capital real estate funds raise over $1bn

Investments from both Australian and offshore investors have contributed more than $1.3 billion to AMP Capital’s flagship unlisted property funds throughout 2016.

The company said its flagship funds, including its Diversified Property Fund and Wholesale Office Fund, had seen strong capital flows from wholesale investors, driven by strong demand from around the world.

“Our very high-quality portfolio and very low vacancy rates, ahead of national averages, underline our strong management capability. Our property funds have capitalised on the demand for high-quality real estate assets in Australia among both domestic and offshore investors and we expect this to continue,” said AMP Capital head of property funds management Chris Judd.

Mr Judd said the support from investors would enable each of the funds to finance their development pipelines and enhance their exposure to retail, office and industrial real estate over time.

“Successful completion of developments such as Macquarie Shopping Centre in Sydney and Pacific Fair at the Gold Coast has delivered strong investment performance for our clients,” he said.

Mr Judd said the support each of the funds received was driven by their focus on “executing clearly defined strategies”.

“There has been a queue of investors waiting to gain access to our pooled funds and we are particularly pleased to welcome them through our capital raising initiatives,” he said.

[Related: AMP Capital positions real estate business for growth]

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