THE Australian Direct Property Investment Association has appointed Geoff Gedge as the new CEO.
ADPIA president Robert Olde said the role was created to ensure the industry was able to capitalise on the current opportunities in the market and ensure investors and fund managers interests are aligned.
“The direct property industry is recovering well from the GFC with many funds now reporting strong inflows and resuming distributions and redemptions. What the GFC has shown us however is that much of the regulations and rules designed to protect investors, and put in place by the corporate regulators were ineffective when the crisis took hold.
“We also know that the wide-scale freezing of funds shook investor confidence and created problems for many advisors. While we maintain that the freezing of funds was the most prudent measure to preserve investor capital, we recognise that rebuilding these relationships is a vital step in the overall development of our industry,” he added.
Olde said issues on the agenda for ADPIA this year include pursuing the abolition of stamp duty, reforms to GST, the taxation of funds and the current proposed ASIC reforms for NTA support, whereby fund managers are to be given stricter capital adequacy requirements.
Gedge is a director of Grenroc Advisory Partners Pty Ltd.
Australian Property Journal
