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The Trust’s objectives are to optimise earnings and provide attractive long-term sustainable returns to investors through the strategic acquisition, intensive management and ongoing development of office, retail and industrial property assets.
These objectives are achieved by:
- investing in a high-quality diversified property portfolio throughout New Zealand, with a broad range of tenants and lease maturities,
- fostering long-term tenant relationships as a means of enhancing investment 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 conservative 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
- accessing the resources of the Manager's parent, Colonial First State Property Limited, 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 assists the Trust to achieve its investment objectives.
Click here to read our full Investment and management philosophy statement.