Investment Matters

AGM season in full swing: Ingenia Communities

Ingenia Communities provided a positive update at its AGM.  Rental villages are exhibiting strong operational (e.g. occupancy), and thus financial performance.  The provision of in-home care is assisting tenure, and is now being rolled into some MHE (manufactured home estate) villages.  The expansion of the MHE division continues, with the recent acquisitions expected to meaningfully contribute to annuity-like earnings (i.e. rental income), as well as providing development sale opportunities in coming years.  Pleasingly, Ingenia is on track to complete 120 development sales this financial year - which is positive given there was some disappointment in this area last financial year.

Ingenia clearly articulated the intention to exit the DMF model of retirement village - with the intent to invest proceeds MHE opportunities.  Operationally, the DMF villages have been performing well, with transactions providing a good start to the financial year.

Finally, securityholders ratified a 6 for 1 security consolidation.  No messing around took place - it was enacted yesterday.  Please note that your online reports will show this as sale and purchase transactions.  This is for administrative reasons - please be assured that the capital gain position and timing from your original purchase/s have been carried through.