Weekly briefs
Calan looks across the ditch, Securities Commission reports on Investment Statements and GPG finally gets Tower's membership list.
Tuesday, October 6th 1998, 12:00AM
Calan Healthcare Property Trust is looking to expand its mandate so it can invest in the Australian healthcare sector.Currently Calan only invests in the New Zealand healthcare sector and its major asset is the soon-to-be completed Ascot hospital in Auckland.
Calan has spent 18 months investigating the Australian market and it believes there are a number of attractive opportunities.
The manager says any investments made in Australia will be subject to the same stringent governance that is in place for acquisitions made in New Zealand.
The manager is seeking unit holder approval to change the trust deed.
Some investment statements misleading
The Securities Commission says the quality of Investment Statement produced by product issuers is quite varied.
While the high quality of some has been encouraging, others have had problems and could be confusing to prudent, but non-expert investors.
In its latest Bulletin publication the commission has given some pointers on how to get it right.
It says some investment statements have failed to answer all the required questions, some have been confusing and complex and others don't describe the investments correctly.
GPG gets Tower list
Guinness Peat Group (GPG) and Tower appear to have reached an agreement the former getting access to Tower's register of members.
This would allow GPG to put an alternative demutualisation proposal before Tower's members, which includes a merger with GPG subsidiary Tyndall Australia.
GPG expects to update its proposal and send it out to Tower members soon.
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