Aussie property boom benefits Perpetual
The fixed income money manager cuts some of its real estate debt investments to the lowest level in 10 years
Sydney
AUSTRALIA'S overheated property market has spurred one of the country's top-performing fixed income money managers to cut some of its real estate debt investments to the lowest level since the 2007 financial crisis.
Vivek Prabhu, the Sydney-based head of fixed income at Perpetual, is making the move as he braces himself for potential blow-ups in the nation's A$7.6 trillion (S$8.16 trillion) property market.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
China Evergrande to delay 2023 annual results; shares remain suspended
Dubai ruler’s firm refinances US$8.2 billion to tap property boom
US home prices jump by most in nearly two years in February
UK’s second biggest mortgage lender pulls offers over flood risk
China state firm to sell 20 Shanghai office towers in downturn
Strained Chinese cities struggle to pay home-buying subsidies