The industry generates revenue primarily from the fees that industry operators charge for managing property portfolios, which is calculated as a percentage of net asset value. In addition, players also charge entry and exit fees when investors purchase or sell units, which are also included in industry revenue. Therefore, industry revenue is directly affected by changes in net asset value. The industry endured lacklustre conditions during the start of the period, as non-residential property prices and rental yields remained depressed after the economic downturn. Fund flows into the industry also remained weak. These factors adversely influenced net asset values and industry revenue.
This industry comprises property unit trusts, which have an open-ended share capital structure where units can be bought and sold directly through the fund manager. Property unit trusts hold, maintain and manage property portfolios for investment purposes. Unit trusts, property investment trusts and open-ended investment companies are excluded from the industry.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.