Investors withdraw capital from funds for first time in three years

[{"selector":"#anim-7415b931-0cdd-4d03-98fe-ed107fd819d8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 2.4868693735996083e-7%) scale(0.819672131147541)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] AS new listings rose nationally by 10.5% over March, vacancy rates also saw a slight increase to 1.1% over the month. Read more

[{"selector":"#anim-4784fb18-6077-44ff-9f3a-695b2be7a7a1 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] It is only the second quarter on global funds network Calastone’s record that investors have withdrawn capital from the sector. Read more

[{"selector":"#anim-9607e0f4-7e75-4b27-8a2b-2bd1b94af73c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Most recent quarters have continued to see inflows but at a lower level than the average for the last few years. Read more

[{"selector":"#anim-cd318e57-de30-46f1-83e1-30b8c509c4b3 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 2.466650906077431e-7%) scale(0.8130081300813008)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Teresa Walker, managing director of Australia and New Zealand at Calastone, said commercial real estate is “triply vulnerable”... Read more

[{"selector":"#anim-ed19e7ce-9bbc-4572-8ab9-792d395c548b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-3.4034399948172863e-15%, 2.5495635385903583e-7%) scale(0.8403361344537815)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “First, higher rates impact demand – lower occupancy affects rents paid to investors. And secondly, the sector uses more leverage than... Read more

[{"selector":"#anim-319433ae-e234-4d19-ae0f-6b4ba5fb7944 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(2.1677574989291197e-15%, 2.5711699942025077e-7%) scale(0.847457627118644)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “The start of the global rate-rise cycle over a year ago quickly caused a sharp drop in net inflows to real estate funds, driven... Read more

[{"selector":"#anim-3167aa31-2f4d-4cb2-b11d-9490e45441be [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 2.4868693735996083e-7%) scale(0.819672131147541)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Calastone’s latest Fund Flow Index showed Australian investors pulled more capital out of managed equity funds in the... Read more

[{"selector":"#anim-1106dc09-0ed2-4af8-952e-ff212617005a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Australian equity managed funds fared well to attract $320 million from January to March, albeit at subdued levels compared to... Read more

[{"selector":"#anim-9c817ec2-445f-45b5-b774-7483f72c3130 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Outflows reached a net $516 million between January and March, making it the first quarter to see capital leave equity funds in... Read more

[{"selector":"#anim-6a462ee9-ac46-4fca-be23-d2b2ff5a765a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Neither the collapse of Silicon Valley Bank or Credit Suisse prompted a marked uptick in local selling... Read more

[{"selector":"#anim-6ac31283-4861-45df-afd3-3c2d82ea9775 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] “The ASX has been trading within a range over the last three months, rising and sliding in lockstep with global markets... Read more

[{"selector":"#anim-bf374d19-dbd8-42ba-a9de-372bf2c9224a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] There was a clear preference for domestic equities in the first quarter. Australian investors added $319 million to... Read more

[{"selector":"#anim-9659a07c-b4df-4ff5-be9f-bed9bf38f358 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-3.4034399948172863e-15%, 2.5495635385903583e-7%) scale(0.8403361344537815)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] They were also negative on specialist sector funds – mainly those focused on infrastructure – for the first time since the... Read more

[{"selector":"#anim-69ccf4d6-17de-444f-aa19-d222e215206b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-3.4034399948172863e-15%, 2.5495635385903583e-7%) scale(0.8403361344537815)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] They were also negative on specialist sector funds – mainly those focused on infrastructure – for the first time since the... Read more

[{"selector":"#anim-18c2743b-5277-40fe-98ca-0f257efcdd61 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Over the last four years, domestically focused funds have absorbed more than a third of the $28 billion Australians have added to... Read more

[{"selector":"#anim-19ec5d59-d6c8-4476-879c-9481ba39122e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Meanwhile in the US, Blackstone recently limited withdrawals again in March for its flagship US$70 billion real estate... Read more

[{"selector":"#anim-7d34dc46-b0e7-4470-8e0d-4bb9eb004045 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Of the $4.5 billion redemption requests made by investors in March, it allowed only US$666 million or 15% of the... Read more

[{"selector":"#anim-862912c8-301a-47d5-b5ab-d7ab5a81778a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] BREIT has seen its market cap shrink significantly since the fund began limiting withdrawals in November last year... Read more

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