Principal Global Investors will start to actively market its global equities and emerging markets funds in Australia following the registration of Dublin funds last month.
“We’re ready to introduce the equities component,” Tim Dunbar, executive director global equities, said in Sydney yesterday. Principal launched a global strategic income fund in Australia over a year and a half ago and an Australian listed property trust last year. When Principal sold BT to Westpac in 2002 it entered a non-compete period for Australian equities and credit which expired mid 2004. However Dunbar said the manager had no intention of establishing an Australian equities capability soon. “It’s too competitive,” he said.
The $355 billion AustralianSuper has acquired a $1.4 billion European industrial and logistics portfolio, owned by OMERS real estate subsidiary Oxford Properties. The nation’s biggest fund is targeting a $7.5 billion valuation for the venture and $35 billion allocation in European and UK region before 2030, supported by its biggest international office in London with 121 employees.
Darcy SongJanuary 14, 2025
