Following the resetting of the Redemption Queue on 1 August 2011, the Manager received redemption requests for $19.7 million, or for approximately 9% of the Fund’s units. The Manager had previously repaid 87.7% of the previous redemption requests as of December 2010. The Manager has 18 months to repay the current Redemption Queue.
The Manager has repaid 27% of the Redemption Queue as at 31 March 2012.
The Manager is continuing to work with the AMP Capital Property Portfolio (APP) to endeavour to repay the remaining 73% of the Redemption Queue as quickly as possible. The Manager is hopeful that it will be able to make a further payment in July 2012 of approximately 50% of the remaining Redemption Queue. This is dependent on the sale of two Wellington office buildings.
- Download the full investment brief from AMP Capital Investors.