AmInvest to double REIT assets to RM500m

KUALA LUMPUR: AmInvest is targeting to increase its Real Estate Investment Trust (REIT) assets under management (AUM) to RM500mil for the financial year ending March 31, 2017.

As of Sept 6, its REIT AUM was valued at RM267mil.

The asset management house is "underweight" on Malaysia's REITs, as the property sector in Malaysia is soft and occupancy rates are low.

AmInvest has high holdings in REITs from Australia, Japan, and Singapore, where there are non-traditional REITs.

"We invest in non-traditional REITs such as childcare centre, healthcare-related, energy and data centre REITs," said AmInvest equities chief investment officer Andrew Wong.

For 2016, the fund's income distribution payout was 3.31 sen per unit.

As of July 2016, the entire AUM of the group is totalled at RM36.7bil.