In order for Brookfield Multiplex Capital to focus on its core competitive advantage of being a wholesale investor into quality unlisted property funds to drive steady attractive returns for Fund unitholders, SG Hiscock & Company Limited (SG Hiscock) was appointed in May 2007 to manage the four listed property securities portfolios held by various Brookfield Multiplex Capital funds. This includes the listed property securities portfolios of the ASX-listed Multiplex Acumen Property Fund (currently valued at $52.8 million), the ASX-listed Multiplex Prime Property Fund (currently valued at $19.3 million) as well as Multiplex Property Income Fund and Multiplex Diversified Property Funds.
SG Hiscock will manage Brookfield Multiplex Capital’s listed property securities portfolios in accordance with signed Portfolio Management Agreements. These discretionary mandates set out parameters under which SG Hiscock can act in terms of portfolio objectives and investment guidelines. Importantly, these guidelines remain unchanged from the guidelines successfully used by Brookfield Multiplex Capital over the last three years and, ultimately, Brookfield Multiplex Capital retains full control over its listed property securities portfolio.