The review is being done in accordance with an undertaking given during the restructuring of the trust in 1999.
The trust reported, on Friday, an after tax surplus of $17.9 million for the year ended June 30.
The trust's net asset value has increased from $2.26 a year ago to $2.61. A distribution of 3.48 cents (not imputed) will be made on September 29.
Macquarie explains infrastructure
Macquarie has extended the closing date for its Global Infrastructure Trust II to September 30 and has launched an educational booklet on the sector.
The booklet, "Why It Pays to Invest in Infrastructure", can be downloaded here
Macquarie says the trust has been attracting steady interest from New Zealand investors and has just had its closing date extended until September 30 because of late approvals from research groups in Australia.
S&P gives AMP the thumbs up
Standard & Poor’s has raised its insurer financial strength and counterparty credit ratings on AMP Life to 'AA-' from 'A+'. At the same time the ratings on AMP Group Holdings were raised to 'A-/A-2' from 'BBB+/A-2'. The outlook on all ratings is stable.
The rating action reflects AMP’s improved operating profitability as demonstrated in its half-year results, and strengthened balance-sheet structure.
S&P says AMP is well placed to maintain the ‘AA-' rating over the medium term. The upgrade implies an expectation that such improvements will be sustainable.
NZX opens IPO
NZX Funds Management opens its initial public offer for the NZX Australian MidCap Index Fund, or MOZY today.
MOZY will track the S&P/ASX MidCap 50 Index in Australia, allowing New Zealanders to invest in medium-sized Australian companies through a Smartshares fund listed on the NZSX Market.
"MOZY offers New Zealand investors a cost-effective and simple way to diversify into the Australian market," said Geoff Brown, NZXFM Director.
MOZY joins the NZSX 10 Fund (TENZ) and the NZSX MidCap Index Fund (MIDZ) in the recently-launched Smartshares family of exchange traded funds.
Calan boost profit
Calan Healthcare Properties Trust today reported a 24% rise in net profit for the year ended June.
The company posted a net profit of $9.09 million, up from $7.36 million the previous year. [MORE]
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