News

ASIC’s recent enforcement action in relation to unlisted property funds is instructive for PFA members, particularly regarding the design and distribution obligations (DDO) regime under the Corporations Act, which commenced on 5 October 2021.

ASIC has warned fund managers about “greenwashing”, which occurs when an entity or a fund overstates or misrepresents their green credentials. ASIC’s warning is timely as more financial products jump on the ESG bandwagon, and is a reminder that even funds with sound ESG credentials could breach ASIC’s “true to label” requirements if they use exaggerated claims or vague terminology.

ASIC has shown it is more prepared to take action against AFSL holders which aren’t adequately monitoring cybersecurity risks or taking their cybersecurity risk management seriously.

Social Infrastructure is not new in commercial property investment, but there has been an ‘awakening’ in the sector, according to Ryan Banting, General Manager Social Infrastructure at Australian Unity.

Investment in property technology (proptech) is on the rise, yet sorting the wheat from the chaff is a challenge, according to Sheridan Ware, Chief Information & Technology Officer at Charter Hall, who presented at the PFA 2022 Conference in Cairns.

Issues surrounding Environmental, Social and Governance (ESG) in commercial property was a strong theme at the Property Funds Association (PFA) 2022 Conference in Cairns.

Australian commercial property continues to look attractive to global capital, according to David Green-Morgan, Head of Asia Pacific Real Estate Research at MSCI Real Capital Analytics, speaking on global fund flows at the recent Property Funds Association (PFA) 2022 Conference in Cairns.

Latest ASIC surveillance operation to include wholesale funds
ASIC recently announced it would commence a surveillance operation into the marketing of managed funds, which will include funds marketed to wholesale investors.

ASIC reviews governance of responsible entities
ASIC recently released findings from a high-level review of the governance practices of 10 large responsible entities of managed investment schemes. ASIC says: “As at 30 June 2021, these responsible entities collectively managed approximately $588 billion in registered schemes.”

The challenges of raising and deploying capital in a pandemic was the theme for a recent PFA Learning Series, which brought together three different perspectives on unlisted property funds, via Ben Harrop, Head of Distribution at Centurial Capital, Steven Bennett, CEO Direct Property at Charter Hall, and Mark Pratt, Executive General Manager of Property at Australian Unity.

A recent PFA Learning Series polled professionals working in or with the unlisted funds management community on some key issues facing the sector. The event, on Raising and Deploying Capital During a Pandemic, took place in December 2021. Here are some key findings:

David Green-Morgan, Managing Director Asia Pacific for Real Capital Analytics, recently joined PFA for an informative webinar on Property Capital Markets Through a Global and Local lens.