News & Analysis

AXA to list $1.07bn Australia fund

Reflecting the continued interest in taking real estate funds public, AXA Asia Pacific has announced it is planning to list its Australian property fund later this year.

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Wealth manager AXA Asia Pacific is planning to list its $1.07 billion Australian property fund later this year, the firm announced Wednesday.

The open-ended private fund, which was set up in 1985, currently has 25 properties in its portfolio. Tenants include Coles, Woolworths, Telstra, Westpac and ANZ. The fund is not investing in any more property and has suspended withdrawals.

The listing will be the ASX200's only ungeared, pure Australasian property fund.

Earlier this year, the French group revealed its plans to extend operations in Asia, where it has properties in Japan, India, plus other markets. Stephen Smith, global head of asset management and transactions, said at the time: “We are also seeing some very significant arbitrage opportunities developing between the listed sector, derivatives and the direct market, which could provide interesting opportunities as the year unfolds.”