Centuria Capital Group has announced its assets under management (AUM) reached $20.2 billion at the end of last year, 16 per cent higher than the end of FY21.
The firm has also upgraded its operating earnings per security guidance for FY22 to 14.5cps, 20.8 per cent higher than FY21 and 9.85 per cent higher than previously forecast.
“Despite volatile market conditions, during HY22, CNI has continued to execute on its strategy,” said Centuria joint CEO John McBain.
“Our ability to continually source quality real estate investments together with deliberate corporate acquisitions has accelerated our growth and continues to create value for securityholders.”
CNI’s total AUM of $20.2 billion included $19.3 billion for real estate, of which $12.6 billion was unlisted and $6.7 billion was listed, as well as $0.9 billion for investment bonds.
As part of the firm’s AUM in unlisted real estate, $8.4 billion was for single asset funds, $2.0 billion for multi-asset closed ended funds and $2.2 billion for multi-asset open ended funds.
Meanwhile, listed real estate covered $4.0 billion for the Centuria Industrial REIT (CIP), $2.3 billion for the Centuria Office REIT (COF) and $0.3 billion for Asset Plus Limited.
“Our real estate platform has recorded exceptional organic growth in HY22, aided by contributions across Australia and New Zealand, our listed and unlisted real estate divisions and all seven major asset classes,” said Centuria joint CEO Jason Huljich.
“The upgraded earnings guidance has been driven to a large extent by continuing strong investment property markets producing significant valuation growth and leading to higher FY22 management and performance fees.”
Centuria noted that it had previously declared a 5.5cps distribution for HY22 and reaffirmed its 11.0cps distribution guidance for FY22.
The firm is set to release further details in its results for HY22 on Wednesday, February 9.
Jon Bragg
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.
