JENNY RUTH: Property funds management too lucrative to ignore

Fri, 24 Jul 2020

Managing a property portfolio tends to be significantly more lucrative than owning that portfolio. It was that realisation that drove the wave of internalisations of external management contracts of New Zealand listed property vehicles during the past decade. In theory, at least, that should mean the investors in the various listed portfolios, including Precinct Properties, Argosy Property, Property for Industry and Kiwi Property, would save money from not having to pay an external manager. Kiwi Property has been talking for years now...

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