DNZ Enters NZX 50 and NZX Property Indices

DNZ Enters NZX 50 and NZX Property Indices

DNZ Enters NZX 50 and NZX Property Indices 8/10/2010

The Directors of DNZ Property Fund are pleased to announce that the company is now included in the NZX 50, NZX 50 Portfolio, NZX MidCap, NZX All and NZX Property indices.

 
Tim Storey Chairman of DNZ Property Fund says “DNZ shares have been trading on the NZSX for almost two months since listing in August, and as New Zealand’s fifth largest listed property company it is appropriate that DNZ is included in the NZX top 50 and NZX Property Indices.”

“We are also pleased with the performance of DNZ’s share price since listing – which we believe is a strong market indication that internal management structures, such as DNZ Property Fund, are the preferred model for the property sector in creating a platform to maximise shareholder returns.”
 


 
For Further Information Please Contact:
Tim Storey, Chairman, DNZ Property Fund Limited
Mobile: 021 633 089 – Email: [email protected]

DNZ Property Fund Overview
DNZ Property Fund Limited owns one of New Zealand’s largest diversified investment property portfolios with commercial office, retail and industrial properties located in Whangarei, Auckland, Tauranga, Hamilton, Rotorua, Palmerston North, Napier, Wellington, Nelson, Christchurch and Dunedin.

As at 31 May 2010 DNZ Property Fund owned 55 properties with 265 tenants, a weighted average lease term (WALT) of 4.5 years, an occupancy rate of 95.4% over a net lettable area of 379,779m², net contract rental of $54.4m with a portfolio value of $671m (31 March 2010 Valuations).

DNZ Property Fund Limited is a Portfolio Investment Entity in which investors hold shares and is managed by its own internalised management team. DNZ Property Fund Limited also manages the property portfolio of Diversified NZ Property Fund Limited, which is owned by Australian institutional investors.

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