Industry News

Check out the latest news and insight from the ever-evolving world of institutional investing and hedge funds from around the globe.

Jing Chen has been eVestment’s hedge fund industry news reporter since 2011. To submit industry-related press releases or request feature ideas please contact her at

News Archive

Read More Industry News >

Hedge Funds Pile into REIT Sector Down Under

Jul 29, 2013
Joey Peters

Following recent news of a planned exit by Australian-based Commonwealth bank from its' $20 billion property trust platform, hedge funds have been pouring funds into the country's listed public trust sector, per a new article in the Sydney Morning Herald. As a result, the entire landscape of the country' REIT sector could be shaped by three independent non-executives directors.

Nancy Milne, James Kropp and Richard Haddock, are on the board of Commonwealth Managed Investments Limited (CMIL), which is a subsidiary of the bank and is the responsible entity of shopping centre group CFS Retail Property Trust Group (CFX) and Commonwealth Property Office Fund (CPA), are facing a difficult decision, per the article.

When approached about plans to internalize the management of the bank's listed funds, the above-mentioned subcommittee of three independent directors was selected to consider the proposal. In a statement, the CMIL board said it could not guarantee that the proposal would proceed and that approval from unit holders would be required.

Speculation suggests Hedge funds are banking that Australian-based Property Management Group Dexus could acquire CPA outright with one analyst suggesting in a note to clients it might do this via the establishment of a new wholesale office fund, per the article.

Read More Industry News >

Want to subscribe?

Join 15,000+ of your colleagues to receive daily hedge fund news from the definitive source in traditional and hedge fund data.

Subscribe Now

Hedge Fund Journal Reviews eVestment's Hedge Fund Database

July, 2012

Read More