Dec 16, 2021

PMG 2021 Year In Review

This year delivered its fair share of challenges, but equally some amazing successes, so we’d like to take a moment to acknowledge PMG’s achievements.

We couldn’t do it without our amazing PMG team and the ongoing support from our valued investors, tenants, contractors and suppliers.

Here are some of PMG’s 2021 highlights.

INVESTORS. Welcomed over 2,500 new investors to PMG’s funds.

Reliable and attractive gross cash returns meant a record number of new investors invested in PMG’s funds this year, not to mention our existing investors continuing to reinvest on the back of our growing track record of performance. Our strategy of diversification (commercial properties located across New Zealand spanning industrial, retail, childcare and office sectors) continues to resonate strongly with investors.

But don’t take our word for it – hear what PMG investors have to say.

LOCAL. PMG Generation Fund acquired cornerstone local asset, the Bethlehem Town Centre.

As part of PMG Generation Fund’s capital raise this year, the Fund acquired the Bethlehem Town Centre – one of the largest outdoor shopping centres in the Western Bay of Plenty. Since onboarding, it has reached close to 100% occupancy with 54 tenants, including Countdown, Kmart, BP and Smiths City. We also continue to work on the long-term strategy for the property regarding site improvements and opportunities for the surplus land (approximately 3,500 sqm).

GROWTH. Raised over $150 million in capital, taking PMG’s assets under management to over $800 million*.

This year marks PMG’s biggest in many ways, with many record-breaking achievements when it came to offers in the market:

  • Pacific Property Fund Limited is one of the country’s largest unlisted commercial property funds and fully subscribed an offer to raise $68 million – the largest opportunity brought to market for PMG at the time.
  • PMG Generation Fund then went on to acquire the Bethlehem Town Centre in Tauranga, and the industrial property at 11-13 Gough Street, Seaview in Wellington, for a total of $107.6m. Bringing the total portfolio value to $166 million, making it PMG’s second-largest fund.

Disclaimer: Assets under management as at 30 November 2021

RECOGNITION. PMG’s CFO Nigel Lowe won SME Finance Leader of the Year, among other wins.

This year we saw PMG and our people nationally recognised for their hard work and industry-leading achievements.

On the people side, our CEO Nigel Lowe won the title of SME Finance Leader of the Year at the 2021 CFO Awards – a new category that recognises exceptional leadership talent and commitment to supporting the growth of a small-media business with revenues of less than $100 million in New Zealand. Our Central North Island Facilities Manager Celia Bowling is also a finalist in the Property Council’s BECA’s Women In Property Award, with the winner to be announced in February 2022.

PMG as a business was a finalist at the Tauranga Business Awards in the categories of People and Culture, and Service Excellence (a title we won in 2020).

PMG’s properties also were in the spotlight, with 143 Durham Street in Tauranga a finalist in at the 2021 Property Council New Zealand Rider Levett Bucknall Property Industry Awards.

ENVIRONMENT. PMG’s first Sustainability Report created, and first NABERSNZ rated building certificate received.

PMG’s Facilities Management Team have been working hard behind the scenes to advance our environmental strategy, which includes achieving NABERSNZ ratings for several buildings across our portfolios. The first has been the 4-star NABERSNZ rating for our property at 8 Rockridge Avenue in Penrose, Auckland, demonstrating excellent energy performance across the whole building. PMG’s Tauranga Head Office tenancy has also just achieved a 4-star NABERSNZ rating, joining only eight other tenancies in the country currently with a rating.

Much of the incredible work around our Environmental, Social and Governance (ESG) initiatives are detailed in the upcoming and inaugural PMG Sustainability Report, due to launch in January 2022. This comprehensive report covers everything from our waste management programme, goals around climate change and becoming carbonzero, and the incredible partnerships the new PMG Charitable Trust is supporting and working alongside.

Watch this space!

ACCESSIBILITY. Partnered with Sharesies and InvestNow so more New Zealanders have access to unlisted commercial property investment.

In a first, for PMG Generation Fund’s capital raise this year, we partnered with online investing platforms InvestNow and Sharesies to give their customers access to invest easily in the commercial property funds offer. Over 1,800 new investors invested indirectly into PMG Generation from these platforms, proving the power technology has in providing people choices to build their financial future.

Overall, these platforms align with our purpose, to create value and security for people through property, and help New Zealanders achieve financial freedom. PMG offers all our valued investors the opportunity to receive regular and reliable returns from our quality commercial property funds.

PEOPLE. Created a new health and well-being plan to support our highly valued team.

The pandemic has placed a necessary spotlight on the mental and physical well-being of individuals. At PMG, we believe our employees are our greatest asset, which led us to establish a Health and Well-being Rewards Programme.

It sees a monetary contribution from PMG given to each of our employees to go towards a physical, mental or spiritual health initiative, subscription, membership or activity of their choice. This initiative is seen as encouragement and support for staff to focus on their key health goals. Read PMG Facilities and Project Management Associate Meilissa Boderick’s thoughts here.

PARTNERSHIPS. Partnered with ASX-listed 360 Capital to strengthen fund expertise and improve access to quality properties.

In February, PMG entered a 50% equity partnership with the Australian-based listed investment and funds manager, 360 Capital. The partnership strengthens PMG’s proven ability to acquire high-quality New Zealand properties, continue sustainable growth, provide greater performance and resilience for our funds and investors, and enable PMG to continue to be the Landlord of Choice to tenants.

COMMUNITY. PMG Charitable Trust launched, with $25,000 already gifted to financial literacy programmes.

The PMG Charitable Trust is invested in building better financial futures through improved financial literacy for young New Zealanders, by enhancing their financial understanding and providing access to basic financial education.

We do this by funding and supporting financial literacy programmes, like Life Education Trust’s SMART$ programme, which teaches topics like interest, savings, loans, planning and the perils of credit cards.

The Trust has committed $75,000 to Life Education Trust for three years, including 2021, and another $25,000 to Impact Lab to measure the potential outcomes of SMART$.

We are just getting started, so please reach out if you’d like more information on how you can help us make change happen.

TRUSTED. 100% of investors surveyed said they trust PMG to deliver on their promises.

At PMG, our vision is to be the most trusted property funds manager in New Zealand. As part of our mission to deliver better, together, each year we reach out to our investors for feedback on how we have been performing so we can better improve our services and our customers’ experiences. As part of the results, 100% of those surveyed said they trust PMG to deliver on our promises.

Here are a few anonymous comments from our investor survey:

“The team has been fabulous, and I feel in today’s economic environment it was the wisest investment my aunt could have told me about.”

“Our monthly return has been able to sustain us as a couple because the interest rates have been favourable even in the COVID uncertainty.”

“Investors would like to feel valued by, and confident in, whom they invest. The personal approach and interactive nature that PMG leaders have with investors demonstrates the passion they have in making PMG the leading property investment vehicle.

“I have a 23-year relationship with PMG and have never been disappointed with performance or people.”

“Trusting PMG staff to do what they say they will is why I deal with PMG.”

We’re invested – in 2022 and beyond.

Related pages:

Meet your investor relationships team

With a range of investment funds to suit New Zealanders of all ages and stages, it's easier than you may think to invest. Give one of our knowledgeable pmg Investor Relationships Managers a call for a no-obligation chat, or visit our FAQ page.

Matt McHardy
Matt McHardy

General Manager Investor Relationships

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Rory Diver
Rory Diver

Investor Relationships Manager – Waikato, Auckland and Northland

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Ben Cant
Ben Cant

Investor Relationships Manager - South Island

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Matt Topham
Matt Topham

Investor Relationships Associate - Tauranga

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Kay Karl
Kay Karl

Investor Relationships Support

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Lorena Zanesco
Lorena Zanesco

Investor Relationships Associate - Tauranga (maternity leave)

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4 steps to investing with pmg

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1. Reach out

To start investing with PMG, register your contact details via phone or email. Alternatively, make an enquiry via our contact form and we’ll have someone from our Investment Relationships Team meet you.

Watch PMG’s history video to learn more about our approach to commercial property investments, along with the five funds within the company. We encourage you to speak with a friend or family member who knows us, and we also recommend you chat with a Financial Advice Provider for specific advice to suit your unique situation.

Look through our current investment offers to find the right PMG fund to suit you. After downloading, carefully review the associated Product Disclosure Statement(s) for the offer(s) you’re interested in. Investing with us is straightforward – either apply online using our secure and confidential investor portal, via the printable form on each fund page, or reach out to your local PMG office to fill out the relevant paperwork.

Our lines of communication are always open. If you have any questions, reach out to your local PMG Investor Relationships Manager. Whether it’s a general catch up or discussion around the latest developments with your investment, we’re here to help.