PMG’s retail funds provide investors with a professionally managed portfolio of commercial properties intended to deliver regular income and the potential for growth in the value of your investment over time.
Designed for those with a long-term outlook, these funds offer passive income while enabling wealth accumulation through diversified property exposure.
*Data as at 30 June 2026 for retail funds only. Past performance is not an indicator of future results. Weighted average, rounded to the number of significant figures shown.
$900m+
Assets under management (AUM)
5.04%
Gross cash yield
$550m+
Funds under management (FUM)
37%
Loan-to-value ratio
98%
Occupancy
5.8 years
Weighted average lease term (WALT)
Our retail funds focus on long-term growth by leveraging strategic diversification, conservative borrowing, and tax-efficient* structures to optimise returns.
*Tax benefits depend on individual circumstances, please consult a tax professional.
PMG invests across diverse property types, locations and tenant profiles. This approach helps our funds remain resilient by strengthening our portfolio against market fluctuations, and helping to mitigate risk against challenges affecting individual properties, sectors or regions.
Rental income diversification from PMG’s retail fund portfolio as at 30 June 2026. The residual 7% of income by tenant sector is from a variety of sectors.
PMG's three unlisted retail funds are designed to deliver regular returns and long-term capital growth through strategic diversification across property types, locations, and tenant profiles.
Established in 2014, Pacific Property Fund is PMG's largest directly held commercial property fund, giving investors access to a diversified portfolio of quality commercial property across New Zealand.
Following the integration of the PMG Generation Fund in 2026, the Fund has grown in both scale and diversification, and is now the country's largest diversified unlisted commercial property fund open to retail investors.*
The Fund is also part of PMG's Reinvestment Plan, which enables investors to reinvest their distributions back into Pacific Property Fund to compound their investment over time - an initiative that continues to grow in popularity.
*Based on publicly available information as at May 2026. Data as at 30 June 2026.
To target sound and well-located industrial, office and retail properties across major metropolitan and regional centres of New Zealand, that offer sustainable returns.
To develop a resilient, diversified portfolio of quality industrial, office and retail properties across New Zealand with robustness of scale that can deliver
sustainable cash distribution returns and growth in value over time.
$498m
Total portfolio value
99%
Portfolio occupancy
40%
Loan-to-value ratio (Debt/Property value)
23
Properties
58
Tenants
6.4 yrs
Weighted average lease term (WALT)
A sector-specific fund which owns quality office properties in main metropolitan areas across New Zealand. The fund offers excellent capital growth potential through proactive building refurbishment and strategic leasing.
The Fund includes properties with impressive sustainability credentials, including a 5.5 Star NABERSNZ Energy rating – the highest rating across
PMG’s portfolio.
*Data as at 30 June 2026. Past performance is not an indicator of future results
To target sound, well-located office properties in main metropolitan areas in New Zealand with the opportunity to add value through leasing vacant space and proactive asset management.
To grow a portfolio of quality office properties delivering sustainable cash distribution returns and growth in value over time.
$132m
Total portfolio value
88%*
Portfolio occupancy
*Including residual space strategically surrendered at the Tuam Street Property, to improve diversification and income resilience. A payment
compensating the Fund for the vacancy was received as part of the surrender agreement.
40%
Loan-to-value ratio (Debt/Property value)
5
Properties
19
Tenants
3.2 yrs
Weighted Average Lease Term (WALT)
A sector-specific portfolio of modern early childhood education (ECE) centres, strategically located in supportive regions across New Zealand, designed to deliver long-term value while supporting community-focused outcomes.
This sector is currently well-supported by Government funding. We closely monitor the performance of each centre, including child attendance rates and
the development of the local area compared to our expectations when purchasing a centre.
*Data as at 31 March 2026. Past performance is not an indicator of future results
To hold and grow a portfolio of early childhood education centres, diversified by region and tenant, to achieve greater resilience of income with scale.
To create long-term sustainable value for our investors and the best start for the children in our communities, through the provision of quality, fit for-purpose centres across New Zealand.
$78m
Total portfolio value
100%
Portfolio occupancy
27%
Loan-to-value ratio (debt/property value)
15
Properties
10.8 yrs
Weighted average lease term (WALT)
We understand that circumstances may change from time to time, and that investors may wish to sell their investments with us. We offer a secondary market matching service to connect those looking to buy PMG investment shares/units with those looking to sell.
