It has been a good year for IOF. In a period of continued economic and political uncertainty we’ve delivered a strong set of results that were ahead of market expectations. Our key performance metrics all improved, with Earnings per Unit up 11%, Distributions per Unit up 14%, and Net Tangible Assets up 3%.
Portfolio repositioning well progressed
Our strategy of repositioning the portfolio to Australia and optimising portfolio performance is now starting to bear fruit. Since Investa took over management of the Fund in mid-2011, $520 million of offshore assets have been sold, over $800 million of premium and A-grade Australian assets have been acquired, and over 120,000sqm of space has been leased – the equivalent of over 25% of the lettable area of the 2011 portfolio. As a result of Investa’s execution, the portfolio is well positioned to continue to deliver strong risk-adjusted returns.
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