Centro MCS is the direct property division of Centro Properties Group and manages investments in 35 syndicates with a total value of A$3.2 billion in Australia and US$2.5 billion in the U.S.
The average Total Annual Return for the Australasian syndicates for the financial year to 30 June 2009 was negative 25.8% (based on an equal investment in each syndicate). For the past three and five financial years, the average Total Annual Return for the Australasian syndicate portfolio has been negative 0.9% and positive 10.2% per annum respectively.
The average Total Annual Return for the US syndicates for the financial year to 30 June 2009 was negative 55.1% (based on an equal investment in each syndicate). This result is due to the significant decrease in property valuations in the U.S. and the resultant impact on syndicate NABs which is magnified by the level of gearing in the syndicate. Over the past three years the Total Annual Return for the U.S. syndicate portfolio is -12.2%.
During the current turmoil in the financial and property markets, Centro MCS remains committed to optimising investor returns by actively managing the property assets and through prudent capital management.