CRT is managed by Croesus Retail Asset Management Pte. Ltd. (the “Trustee-Manager”). Following the successful internalisation of the Trustee-Manager on 31 August 2016, all of the Trustee-Manager’s issued shares are held by Perpetual (Asia) Limited, in its capacity as trustee of the Trustee-Manager Share Trust, for the benefit of CRT’s unitholders (“Unitholders”) in proportion to their unitholding interest in CRT. With the internalisation, the Trustee-Manager is effectively beneficially held by the Unitholders.
Management functions are now conducted in-house to create a stronger alignment of interests between the Trustee-Manager and the Unitholders as well as to generate cost savings.
The key objective of the Trustee-Manager is to deliver a competitive return on investment to Unitholders through:
(i) Regular and growing distributions
(ii) Long-term capital value growth of CRT’s portfolio of assets. The Trustee-Manager aims to achieve this objective by:
- Actively managing its core portfolio in Japan to increase its profitability and long-term capital value while maintaining a stable recurring income to CRT
- Pursuing selective acquisition opportunities to acquire predominantly retail completed and development real estate assets and targeting high growth markets in the Asia-Pacific region with attractive cash flow growth profiles and capital gains prospects to generate long-term capital growth and long-term capital returns to CRT, with an initial focus on Japan.