Morgan Stanley remains Asia-Pacific’s largest property fund manager, according to a survey, despite having some problems with its investments in Japan.
Hong Kong-based industry group Asian Association for Investors in Non-listed Real Estate Vehicles (ANREV) said Morgan Stanley has managed $US19.5 billion worth of property assets in the Asia-Pacific region as of 30 June 2010, up from last year’s $US19.1 billion.
ANREV said the second-largest real estate fund manager in the Asia-Pacific region was CapitaLand Financial, CapitaLand’s real estate fund management unit, with $US16 billion worth of assets, down from last year’s $US18.8 billion.
The third spot went to Australia’s AMP with nearly $US12.4 billion in assets, down from $US13.1 billion in the previous year.
Overall, property fund managers held a total of $US178.6 billion worth of property assets in Asia.
Other large real estate fund managers in the Asia-Pacific include Singapore’s Pramerica Real Estate Investors (Asia), a subsidiary of US-based Prudential Financial; Australia’s Goodman Group and Dexus Property; UBS; ING; Lend Lease and LaSalle Investment.
ANREV noted that about 83.6 percent of total investors in non-listed property funds were institutional investors.