AMP Capital Shopping Centre Fund

Overview Key strengths Key risks High-quality asset portfolio weighted to regional shopping centers (94.6%). Exposure to discretionary consumer spending and tenant demand cycles, including a shift to e-commerce. Solid lease-maturity profile, high tenant occupancy, and well-diversified tenancy. Mixed consumer sentiment arising from subdued and volatile economic conditions. Supportive financial policies, although gearing is at the higher end of target range (15%-25%). High geographic concentration of assets along Australia's east coast (New South Wales 43.4%, Victoria 19%, Queensland 12.2%). The fund's A$3.7 billion portfolio comprises 12 assets predominantly on the eastern seaboard of Australia, with approximately 74.6% of assets in New South Wales, Victoria, and Queensland. The portfolio's solid maturity profile and ability to maintain high occupancy (96.5% as of March

...AMP Capital Shopping Centre Fund's (ASCF) high-quality regional assets should remain competitive in its trade catchment areas and underpin its earnings stability. The fund's A$3.7 billion portfolio comprises 12 assets predominantly on the eastern seaboard of Australia, with approximately 74.6% of assets in New South Wales, Victoria, and Queensland. The portfolio's solid maturity profile and ability to maintain high occupancy (96.5% as of March 31, 2022) across a well-diversified tenancy base underpin its quality and competitiveness....

Full Report