Standard & Poor’s Fund Services today announced it has affirmed the five-star rating on the AMP Core Property Fund (ACPF).
The ACPF is a diversified fund-of-funds that invests in listed and unlisted property funds that are predominantly managed by AMP Capital Investors (AMPCI).
The ACPF provides investors with access to three of AMPCI’s well-diversified wholesale unlisted property funds—the AMP Capital Shopping Centre Fund, the AMP Capital Wholesale Office Fund, and the AMP Capital Hedged Global Direct Property Fund—which are managed AMPCI. These funds invest in quality real estate portfolios, primarily holding office and retail properties located in Australia and overseas.
The ACPF also invests in AMPCI’s Global Property Securities Fund and the BlackRock Property Securities Index Fund, which are both rated four stars by S&P.
“AMPCI’s real estate investment capability is considered to be a core competency, and this underpins S&P’s conviction,” said S&P Fund Services analyst Peter Ward. “In particular, we believe that the underlying unlisted property funds are well positioned to take advantage of opportunities, and to weather challenging conditions,” said Mr Ward.
