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Property manager, sovereign wealth fund enter JVBY ALLY SELBY | MONDAY, 6 APR 2020 11:50AM
A $33.8 billion Australian property manager has acquired a 50% stake in a Collins Street skyscraper, forking out $644 million as part of a joint venture with a sovereign wealth fund.
Read more: Dexus, GIC, Rialto Towers, Melbourne, Dexus Australian Logistics Trust, CBD, Darren Steinberg, Singapore
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The earlier than expected easing of restrictions in Australia that defrosted social and commercial activity has had its desired effect - rebounding business conditions and confidence, and the feared one - a second wave.
Around 300,000 Australians lodged their second application to access their super early at the start of the new financial year.
Spaceship chief executive Andrew Moore says its managed investments business has been the "single, strongest" source of growth for its $300 million superannuation fund.
Nine industry funds are working with Frontier Advisors to probe new longevity risk products for retiree members, which could include tweaking account-based pensions.
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