KAF Australian Islamic Property Fund targets 9%-10% returns annually

KUALA LUMPUR: Crescent Wealth and KAF Investment Funds Bhd aims to generate 9-10% annual return for the KAF Australian Islamic Property Fund (KAIPF) which was launched today.
Crescent Wealth corporate strategy and development director Omar Khan said it is confident of achieving the annual returns due to the shortage office space supply in Australian cities.
He said the fund will invest only in commercial properties in Australia, with a focus on Sydney and Melbourne. The fund is targeting 7% income yield and 2-3% capital appreciation.
The KAIPF is Malaysia's first fund that provides non-institutional investors direct access to Australian commercial property. The feeder fund invests into Australia's Islamic property fund, Crescent Diversified Property Fund.