ARA Asset Mgt

ARA Asset Mgt (The Edge): Dynasty REIT to be game changer for ARA. CIMB note that success of the Rmb REIT could transform ARA into the likes of Capitaland and Mapletree Investments and boost its earnings significantly. While a successful listing would provide its ADF investors with increased visibility in a divestment route and returns. Assuming as AUM of $1b, listing could allow additional mgt fees of abt $5m each yr, and greater certainty to promote fees from ADFI. Yield for Dynasty REIT is expected to be 6.6-7% and total independent property valuation without income support for the assets is $1.4b.