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Kiwi Income Property Trust (KIP or the ‘Trust’) is New Zealand’s largest listed diversified property trust with $2.0 billion (as at 31 March 2013) invested in a diversified portfolio of retail and office assets located throughout New Zealand.
The Trust was founded in 1992, and a year later became New Zealand’s first listed property trust. KIP invests only in New Zealand real estate, a mandate which it has followed since inception. At 31 March 2013 the Trust’s portfolio comprises 11 assets located across New Zealand.
The Trust is managed by Kiwi Income Properties Limited, a company which is ultimately owned by Colonial First State Global Asset Management, the largest manager of Australian-sourced funds, and in turn the Commonwealth Bank of Australia.
The Trust’s vision is to be New Zealand’s leading property investment vehicle with a diversified portfolio of high quality assets providing superior returns.
The Trust’s objective is to optimise earnings and provide attractive long-term sustainable returns to investors through the strategic acquisition, professional management and ongoing development of office, retail and industrial property assets.
We strive to meet this objective by:
investing in a high-quality diversified portfolio of office, retail and industrial assets throughout New Zealand, with a range of lease maturities,
fostering long-term tenant relationships as a means of enhancing strong and robust performance,
adopting an active management philosophy encompassing asset and financial management, strategic investments, acquisitions and divestments and the judicious development of new and existing assets,
maintaining a strong balance sheet with prudent borrowing levels. The Trust Deed requires the level of borrowings to be maintained at no more than 40% of the gross value of the Trust, and
utilising the resources of the Manager’s parent, Colonial First State Global Asset Management, and ultimate parent, Commonwealth Bank of Australia (CBA). CBA is one of the leading providers of financial services in Australasia and is best known in New Zealand for its ownership of ASB Bank and Sovereign Assurance. The ability of the Manager to access the skills and experience of one of Australasia’s leading fund managers has strengthened the Trust’s culture of innovation and success.