Charter Hall FUM rises to $52 billionright-arrow
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by Charter Hall

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Charter Hall Group (ASX: CHC) today provides an update on property revaluations and the resultant impact on Group Funds Under Management (FUM).

The Group’s FUM Platform will generate gross valuation increases of $3.3 billion inclusive of $0.6 billion of development capex, which will result in forecast Group FUM rising to approximately $52 billion as at 30 June 2021. Group FUM has increased $12 billion over the course of FY21, providing 28% growth in FUM.

The following table dissects net valuation growth by sector across the Group’s Platform.

 

Sector6 month growth (%)12 month growth (%)
Industrial 10.8%15.5%
Office2.9%3.7%
Long WALE Retail 8.7%14.5%
Social Infrastructure7.4%9.9%
SC Retail1.2%1.3%
Total5.9%8.3%

 

Managing Director and Group CEO, David Harrison, said: “Today’s valuation outcomes demonstrate the success of our investment selection process. We’ve seen impressive valuation gains across most sectors, delivering strong returns for our investors. Our focus on securing long-leased assets to high quality tenants, often secured through off-market sale-and-leaseback transactions, or through our develop-to-core development pipeline, continues to deliver attractive enhanced returns. The net valuation growth for FY21 of $3.7 billion in addition to the $1.8 billion of capex during FY21 has complemented the $7.8 billion of acquisitions and $1.8 billion of divestments, resulting in  $6.0 billion of net acquisitions for FY21 to date.”

Charter Hall Group will report Financial Year 2021 Results on 23rd August 2021.

Announcement authorised by the Chair and Group Managing Director and CEO

Click here to view ASX announcement