Commonwealth Managed Investments Limited (CMIL), the Responsible Entity of CFS Retail Property Trust (CFX), has its own Board and Compliance committee .
The role of the Responsible Entity is to manage the Fund in the unitholders’ best interests in accordance with the Fund’s Constitution and the Corporations Act 2001 (Cth) (the ‘Act’). The Act empowers the Responsible Entity to engage agents.
CMIL has appointed Colonial First State Property Retail Pty Limited as Manager of CFX, which in turn has delegated its role to Colonial First State Property Limited (the 'Delegated Manager').
Subject to certain limitations, the Delegated Manager has a duty to carry out or cause to be carried out all the functions, duties, responsibilities and obligations of the Responsible Entity. However, CMIL remains fully responsible for the actions of the Delegated Manager.
CMIL has no employees. All out-sourced functions are undertaken by employees of related entities and are all employed by Commonwealth Bank of Australia (the 'Bank') and are subject to the Bank’s Code of Conduct including the Insider Trading Policy.
CFX management team
CFX’s management team brings a diverse range of property management and investment expertise to the Trust. The role of each of the members of CFX's management team is described below.
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Michael Gorman
Fund Manager
CFS Retail Property Trust (CFX)
Michael is the Fund Manager for the CFS Retail Property Trust (CFX). Michael is responsible for all aspects of management of the Trust, including the strategic direction of the vehicle, financial analysis, acquisitions and disposals. He also works closely with the retail management team to optimise the performance of the portfolio. Michael brings over 20 years' experience to his role and has extensive experience in the development and management of major retail assets within Australia and overseas. Michael is also the Deputy Chairman of the Shopping Centre Council of Australia.
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Angus McNaughton
Managing Director, Property
Colonial First State Global Asset Management
Angus McNaughton is the Managing Director of Property for Colonial First State Global Asset Management (‘CFSGAM’). The Property division includes listed property, unlisted property and our asset management and development functions. These businesses have responsibility for approximately AUD$18 billion in funds and assets under management.
In his role Angus oversees the performance and strategic direction for all vehicles managed by these businesses and maintains responsibility for driving the long term strategy and performance of the wholesale property business.
With more than 20 years’ experience in the property (asset and development management), capital markets and funds management industries, Angus leads one of Australia’s largest fully integrated property businesses.
Angus has been working with the business for over 17 years, most recently as Head of Wholesale Property Funds, prior to which he worked in Singapore investigating opportunities for the group. Angus was also the Chief Executive of the New Zealand Stock Exchange Top 10 listed Kiwi Income Property Trust (‘KIP’). In 2007, Angus received the Property Institute of New Zealand’s Property Industry Award (sole recipient) and in 2006 he was voted one of the New Zealand Herald’s Top 10 Business Leaders of the Year.
Angus has an honours degree in Management Studies from the University of Waikato, New Zealand.
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Tony Gilchrist
Head of DevelopmentTony is the Head of Development for CFSGAM Property. Tony has overall responsibility for the retail and commercial property development business. Tony has over 25 years of experience in the Australasian property industry, with more than 20 years in property development, and has demonstrated his ability to develop and grow a property portfolio to deliver market-leading investment performance.
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David Yates
Head of Investor Relations and Corporate Affairs
David Yates is the Head of Investor Relations and Corporate Affairs at Colonial First State Global Asset Management (‘CFSGAM’) Property. In his role, David leads the in-house team which is responsible for the investor relations and corporate affairs function and managing the relationships and information flow to the investment community.
David and his team develop various forms of communications and support the fund managers in effectively communicating the strategy, operations and financial performance of the respective funds to investors and analysts. The team also ensures consistent messaging and proactive and transparent continuous disclosure.
David has more than 12 years’ experience in investor relations specifically in the Australian commercial property market, and has demonstrated his ability to develop and drive successful investor relations programs. David has a Bachelor in Business from the University of Adelaide and holds a Masters in Business Administration from EADA, Barcelona, Spain, and is a member of the Australasian Investor Relations Association (AIRA).
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