US Masters Residential Fund to join S&P All Ordinaries
The US Masters Residential Property Fund, which invests directly in residential property in New Jersey and New York, will join the S&P/ASX All Ordinaries Index after close of trading this Friday, March 15.
The index comprises the 500 largest companies listed on the Australian Stock Exchange.
Since December, the fund's share price has risen strongly from around $1.60 in December to currently trade close to $1.90.
Fund managing director Alan Dixon said strong growth and investor support had helped put the fund among the 500 largest companies listed on Australian Stock Exchange.
“Two years ago, when we launched the US Masters Residential Property Fund, we saw an historic opportunity to acquire high quality US residential property at attractive valuations using the strong Australian dollar.” Dixon said.
Read the full article: US Masters Residential Fund to join S&P All Ordinaries