As you may know, last December the NBR published a column entitled ‘Rubbish real estate funds are a hard habit to break’ by their senior journalist, Tim Hunter.
The column, in our view, used unverified information and a selective presentation of facts to support the publication’s clear dislike for unlisted property funds. Given that PMG, and the apparent circumstance of a PMG investor, were central to this narrative, we raised our concerns first directly with NBR, and then formally through a complaint lodged with the NZ Media Council. Details of the complaint, which has not been upheld, and the Council’s findings can be found here.
While we respect the Council’s findings, we’re naturally disappointed with this outcome – particularly its characterisation of such a subjective opinion piece, based on unverified information and a selective presentation of facts as ‘media’s freedom of expression.’
We’re comfortable with the approach we have taken here, but more importantly we’re comfortable and confident in our investment thesis and portfolio management, our focus on trusted investor relationships and the role our property funds play within the diversified portfolios of our investor clients.
We’ve built a reputation we’re proud of by working transparently in the best interests of our investors for over 30 years, through multiple economic cycles. As has been well-documented, the current economic climate is not without its challenges. Through our diversified commercial property funds, we remain well-positioned to help navigate our investors through this period and take advantage of long-term growth opportunities as they arise.
Thank you for the trust you continue to show in our ability to support your investment needs. If you have any concerns about either the article, our response to it or our overall approach, please don’t hesitate to get in touch with your investor relationships manager.
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.
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.
