The Fund is closed to applications, redemptions and new investments.
Multiplex Development and Opportunity Fund (Fund) is an unlisted property development and opportunity unit trust that provides investors with exposure to a range of property projects at various stages of the development cycle, as well as other forms of direct and indirect property investments. The Fund seeks to provide investors with returns in excess of those generally achieved through traditional direct property investments.
Objective and Strategy
The objective of the Fund is to maximise returns to unitholders through investment in a portfolio of property development and other direct and indirect property related transaction, predominantly within Australia but also in countries where Multiplex has development operations such as New Zealand and the United Kingdom.
Brookfield Capital Management Limited, the Manager and responsible entity of the Fund, aims to meet or exceed a benchmark pre-tax return of at least 15% per annum net of management fees and operating expenses. This is not a forecast or indication of likely future returns, rather it is a benchmark against which the Manager measures the performance of the Fund.
Each investor’s entitlement to distributable income is proportional to the number of units held at the end of the relevant distribution period.
The Manager will seek to secure a high number of acceptable property development and property related proposals to achieve the benefits of investment diversification, whilst ensuring that all Fund investments satisfy a pre-established investment criteria. Prospective investments will be subject to evaluation and a due diligence process designed to confirm that the relevant opportunity is capable of satisfying the objectives of the Fund.
|Open date:||April 2002
|Close date:||8 August 2008
|Fund size:||$72.8 million**|
|Distributions:||Distributions will be determined by the responsible entity from time to time in line with the funding requirements of the Fund|
|Liquidity Facility:||The liquidity facility of $20 million has reached it's cap and is therefore currently unavailable.|
|Adjusted NTA per unit ($)1||0.40|
**Total assets of the Fund as at 31 December 2012.
1. The NTA is calculated using the audited net asset value of the fund less minority interest as at 31 December 2012, divided by the number of units on issue.