News and Announcements
Folkestone Ltd FY15 Company Update
- Published January 29, 2015 12:25PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Folkestone (ASX: FLK) had a very active 2014 and this was reflected in the share price increasing 16.1%. Funds under management grew to $850 million with the launch of a number of new unlisted real estate income and development funds and the continued growth it the ASX listed Folkestone Education Trust (ASX:FET), Australia’s largest owner of early learning centres.
Folkestone also undertook a $42 million placement and retail entitlement offer in November which was very well supported by a number of new institutional investors and Folkestone’s existing investors. As a result, Folkestone’s market capitalisation is now more than $150 million.
Looking forward, Folkestone with its strong balance sheet and access to third party capital, will continue to grow its suite of listed and unlisted real estate funds and seek value-add and opportunistic investments for its balance sheet activities.
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ABOUT FOLKESTONE
Folkestone (ASX:FLK) is an ASX listed real estate funds manager and developer providing real estate wealth solutions. Folkestone’s funds management platform, with over $800 million under management, offers listed and unlisted real estate funds to private clients and select institutional investors, while its on balance sheet activities focus on value-add and opportunistic (development) real estate investments.
Folkestone’s Income Funds provide investors with regular income and the opportunity for capital growth from investing in unlisted real estate funds that own Australian real estate assets, including office, retail and real estate related social infrastructure.
Folkestone’s Development Funds provide high net worth private client investors with an opportunity to invest in Australian real estate assets that have been selected to provide the potential for capital growth from value-added and opportunistic (development led) investment strategies. In addition, Folkestone manages the Folkestone Maxim A-REIT Securities Fund which actively invests in a diversified portfolio of predominantly Australian listed real estate investment trusts and real estate related securities.
Folkestone also manages two listed A-REITs which are listed on the ASX – the Folkestone Education Trust (ASX Code: FET) the largest Australian listed real estate investment trust investing in early learning properties within Australia and New Zealand and the Folkestone Social Infrastructure Trust (ASX: Code FST) which primarily invests in real estate related social infrastructure assets.
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