mark100
01-09-2014, 05:01 PM
Manager of the listed TIX and TOF REITS that's have previously been discussed on sharetrader, along with other non-listed property funds/syndicates.
TGP came about via the merger with the listed Trafalgar Group around a year ago. Prior to that 360 Capital was unlisted. So at the moment TGP's earnings come from Funds Management, co-investment in it's managed funds and direct property holdings. The direct property holdings come about from the property owned by Trafalgar Group prior to the merger with 360 Capital and will progressively be sold.
When the direct property has been sold off TGP will be a property funds management that also co-invests in its funds. The direct property sell down will also free up capital for further co-investment as new funds are launched.
Guidance for FY15 earnings is 5.5-6.9cpu of operating earnings and 3.1-5.5cpu of 'active earnings'. Active earnings are more opportunistic and one-off in nature. DPU are forecast at 5.25c unfranked.
I've been in them for a few months but the FY result gave a good look of how they're travelling and now the market seems to be catching on.
I like ticket clippers when FUM is growing.
TGP came about via the merger with the listed Trafalgar Group around a year ago. Prior to that 360 Capital was unlisted. So at the moment TGP's earnings come from Funds Management, co-investment in it's managed funds and direct property holdings. The direct property holdings come about from the property owned by Trafalgar Group prior to the merger with 360 Capital and will progressively be sold.
When the direct property has been sold off TGP will be a property funds management that also co-invests in its funds. The direct property sell down will also free up capital for further co-investment as new funds are launched.
Guidance for FY15 earnings is 5.5-6.9cpu of operating earnings and 3.1-5.5cpu of 'active earnings'. Active earnings are more opportunistic and one-off in nature. DPU are forecast at 5.25c unfranked.
I've been in them for a few months but the FY result gave a good look of how they're travelling and now the market seems to be catching on.
I like ticket clippers when FUM is growing.