02.10.2008 - Super funds moving out of property
From The Australian: Australia's superannuation funds have put as much as $2billion worth of their units in unlisted wholesale property trusts up for sale at discounts of as much as 10 per cent. Institutional investors such as superannuation funds have about $50 billion invested in unlisted property funds run by managers such as Lend Lease, AMP, Macquarie Group and GPT. Analysts said the collapse in the price of equities meant super funds were holding too much property and they were trying to sell stakes in unlisted funds. Australia's 150-odd superannuation funds have prescribed guidelines covering their investments in property, ranging from 5 per cent to 25 per cent..... Full Article: Source