Purchasing property or land that becomes the asset of the acquiring fund.
A resource that can produce a return.
A fund’s pro rata share of the latest independent valuations of all properties within the portfolio.
The aggregate amount of committed capital called and paid to the fund or partnership from time to time (after due allowance for any invested and returned capital).
The increase in the value of a property that happens over time as the market increases in value.
A capital raise is when PMG presented to the market to raise a prescribed about of funds from investors, which will fund the acquisition of one or more properties into a PMG fund. Also know as a Public Offer.
The cash distributed to investors in our funds (returns) every month or quarter, which varies between funds.
The term cpu refers to the targeted gross distribution per unit for unitholders.
An arrangement that is entered between a fund, the fund manager, a portfolio investment and another party wishing to invest in that portfolio investment.
The total amount in dollars agreed to be contributed to the capital of a fund by all partners.
Activity that opposes the current economic cycle or trends.
When the value of chattels within your property decreases in value over time. This depreciation is considered an expense and is used to decrease the amount of tax you need to pay.
Means all capital, profits, interest and other benefits of the fund or partnership, to be capital or income available for distribution, and includes and takes into account any imputation credits or tax credits attached to such amounts at face value, and at any capital gains or loss
A distribution is profit earned by a managed fund and paid to investors. Throughout the financial year, a managed fund will earn income from its investments. These could be in the form of dividends, interest and foreign income. The managed fund may also make gains or losses on investments sold.
The value of assets minus any debt held against the fund/owner that owns the asset.
The Financial Markets Conduct Act 2013 (FMC Act) governs how financial products are created, promoted and sold, and the ongoing responsibilities of those who offer, deal and trade them.
An agreement with a lender or bank of the interest rate that you will pay for a set amount of time.
An agreement with a lender or bank where the interest rate you pay can change at any time.
The amount of investor's capital we manage, calculated based on the latest Board approved unit price of each fund and multiplied by the number of units/shares on issue.
Gross cash return measures the annual pre-tax cash flow from an investment relative to the initial equity investment. Gross cash return is calculated by dividing the net cash flow by the total cash invested.
The IRR represents the average annual return earned by a fund, before taxation and before including any costs incurred directly by investors (after due allowance for any invested and returned capital).
The Investment Committee is a sub-committee of the Board responsible for overseeing the governance, strategy and performance of PMG’s funds.
The criteria that each investment must meet to be acquired, summarised in the fund’s Statement of Investment Policies and Objectives.
The period during which a fund or partnership will make or have made investments.
Like any investment, an investment in any of PMG’s funds comes with risks and while we are transparent with any existing risk, we advise that investors seek the advice of registered financial advisors before investing in any products.
The speed at which an asset or investment can be sold/converted for cash.
LVR is the amount of a loan compared to the value of the property.
The management agreement entered into between a fund and PMG (the manager).
A system or standard of measurement, PMG uses to show the key statistics and performance of our funds.
Ministry Of Education (MOE)
NABERSNZ is a system for rating the energy efficiency of office buildings. It is an independent tool, backed by the New Zealand government.
The total floor space within a building or on a lot that a tenant can exclusively use for their operations, excluding common areas and structural components.
All building work in New Zealand must comply with the Building Code, even if it doesn't require building consent. New Building Standard (NBS) is an indicator of an existing building when compared with a newly constructed building. In other words, it is an assessment of how well an existing building fares against today's building standards.
An offer of Units in a specific fund.
The group of companies that has PMG Group Limited as the ultimate holding company.
The property of a fund (whether held directly or through a nominee or custodian), which is from time to time under the management of the manager and includes without limitation any investments.
A portfolio investment entity or PIE is a type of entity that invests in different kinds of passive investment. Companies, trusts, superannuation schemes or managed funds can choose to become PIEs. There are different advantages depending on the type of PIE – multi-rate, listed or various sub-types.
The tax rate that your portfolio investment entity (PIE) uses to calculate the tax on the income from the investment of your contributions.
A fund set up with a group of private individuals with a specific investment strategy.
Sourcing a real estate for acquisition/buying into one of our funds.
A management agreement that is entered between a PMG entity, and any of the portfolio investments in which a fund has an investment interest.
The PMG entity named in a Property Management Agreement.
A property may be repositioned (which may include altering the physical appearance, attitude or operation) in the market to add value.
A public offer is when PMG presented to the market to raise a prescribed about of funds from investors which will fund the acquisition of propert(ies) into a PMG Fund.
A person who is registered on the Financial Services Providers Register and is legally allowed to offer personalised financial advice.
According to the Financial Markets Conduct Act 2013 (FMCA), a retail investor is defined as anyone who is not a wholesale investor, meaning they are not a person or entity with the capacity to assess investment risks and make informed decisions, and therefore require more regulatory protection. Investors should obtain legal advice as to their status as an investor under the FMC Act.
As PMG shares and units are not quoted on a listed exchange (such as the NZX), there is no readily available public secondary market to sell and/or buy PMG shares and units. However, thanks to PMG’s extensive database of investors, we facilitate a secondary market matching service to connect those looking to acquire PMG shares/units with those wishing to sell.
The service operates on a queue system, and there is a fee. The time it takes to find a buyer will depend on the number of sellers in the queue and level of demand. From time to time, PMG may (at our discretion) offer redemptions. There is no guarantee the matching service or redemptions will be available, or that investors will be able to sell their investment within a specific timeframe or price range.
A Statement of Investment Policies and Objectives (SIPO) is a document outlining the investment governance framework, philosophy, strategies, and objectives of a managed investment scheme or its investment funds/portfolios.
The targeted annual return for a fund, before tax per annum on capital contributions over the life of an investment, compounded annually, after due allowance for any invested and returned capital. Targeted returns are stated solely for the purpose of providing insight into the current objectives of PMG’s wholesale products in August 2023, establishing a benchmark for future evaluation of the performance of PMG’s wholesale products.
Targeted returns are neither projections, nor guarantees, of future performance, and there is no assurance such targets will be met. PMG may not be successful in finding or executing on investment opportunities that deliver targeted returns.
A person or company who rents a property or a percentage of the property from the owner.
When a public offer is presented to the market to raise a prescribed about of funds from investors which will fund the acquisition of property(ies) into a PMG Fund. An underwrite refers to when part of the funds required are guaranteed by an entity or individual unless the funds come from the public.
A holder of Units in a fund.
Investors buy units or shares in a Fund. One unit or share in a fund might be worth $1 to purchase, as an example.
Unlisted commercial property refers to several assets owned by a single trust like one of PMG’s funds, as opposed to listed property on the NZX.
An independent assessment of a property’s fair market value at a specific point in time.
At PMG, valuations are conducted by indpendent, third-party valuers and are typically performed annually for each property in a fund. Valuations take into account factors like rental income, lease terms, tenant quality, property condition, and recent market sales.
Valuations help determine the net asset value of a fund, which in turn influences the unit/share price. They are a key part of fund management, providing transparency and guiding decisions around performance, strategy, and investor reporting.
The weighted average lease term (WALT) is a commercial real estate metric that measures the average remaining lease term for all tenants at a property, weighted by rental income.
According to the Financial Markets Conduct Act 2013 (FMCA), a wholesale investor is an individual or organisation with a strong understanding of financial products, their operation and the associated benefits and risks. To qualify as a wholesale investor in New Zealand, you must meet the following criteria: