12 Jul 2023
Hailing from Long Island in New York, at 58 years of age, Wayne Cronor was looking to retire outside of the United States. While travelling in New Zealand he met a lady and after two years was lured by love to live in New Zealand permanently. That was just over 10 years ago.
A highly qualified professional with over 35 years' work experience, Wayne found the move and finding work in New Zealand, a struggle. So he decided to look at new opportunities and immerse himself in a true Kiwi field of work. Fortunately, Wayne had been prudent with his finances and had savings.
“I needed an investment that could supplement my income, was tax efficient to preserve my retirement savings as much as possible,” says Wayne.
“I liked the idea of unlisted commercial property because of its tangible nature, and historic lack of volatility. And it was PMG’s strong track record of performance over time and competent management team who have their own money invested in PMG, that convinced me to invest.
“I felt I was buying an experienced management team who knew what they are doing,” he said.
Value over time
“PMG has a well-diversified set of funds that were well managed through market cycles. It was clear the team had carefully forecast the market and are smart enough to take advantage of opportunities.”
Following a conversation with PMG’s Investor Relationships team, Wayne decided to dip his toes in and invested initially into PMG Direct Office Fund, Pacific Property Fund and PMG Generation Fund in 2020. Since that initial investment, Wayne has invested in other PMG funds, increasing his portfolio with PMG significantly.
When asked what the key drivers were for investing more with PMG he says: “I don't believe I could make consistent returns like this anywhere else.”
Wayne lists a few reasons why he thinks PMG is a great place to put his money, including:
• A trusted, 'family' environment - I’m not just a number
• They are great people, who care deeply about your investment
• The management team are personally invested alongside investors
• Returns are regular
• Tax depreciation advantages and the PIE structure of PMG’s funds mean the fund has delivered us positive net returns
• Their experienced in-house asset and facilities management team who know property, is icing on the cake
Wayne has already recommended PMG to a number of his friends and family and would be happy to speak to anyone who is considering investing with PMG.
Disclaimer: The information in this testimonial reflects the opinion of the specific investor and does not necessarily reflect the opinion of PMG. It is of a general nature and was current as at June 2023. It is not intended to be regulated financial advice for the purpose of the Financial Markets Conduct Act 2013, and does not take your individual circumstances and financial situation into account. PMG does not provide financial advice. Please seek advice from a licensed financial advice provider before making any investment decisions.
