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Lendlease

PRI reporting framework 2019

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Basic information

OO 01. Signatory category and services

01.1. Select the services and funds you offer

Select the services and funds you offer
% of asset under management (AUM) in ranges
Fund management
Fund of funds, manager of managers, sub-advised products
Other
Total 100%

Further options (may be selected in addition to the above)

01.2. Additional information. [Optional]

For the purposes of this submission, “organisation” means Lendlease’s Investment Management business in Australia, Asia and Europe, unless otherwise stated. In some responses (where stated) the submission references ‘Lendlease Corporation Limited’, which is the parent entity, listed on the Australian Stock Exchange (LLC), as well as ‘Lendlease Investment Management Australia’ (LLIM Australia).

Lendlease's Investment Management (LLIM) business manages A$33 billion in assets under management (AUM) comprised of property assets held across unlisted funds and separate mandates in Australia, Asia, and Europe. 

LLIM invests on behalf of institutional investors including pension funds, sovereign wealth funds, investment managers and insurance companies, and gives its investment partners access to quality property assets across the risk/return spectrum.

The investment management business has access to Lendlease's in-house development, asset and property management, research, capital transactions, project management and construction skills. These end-to-end capabilities help it provide property investment opportunities that meet its client's needs.


OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Australia

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

115 FTE

02.4. Additional information. [Optional]


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2018

04.2. Indicate your total AUM at the end of your reporting year.

Include the AUM of subsidiaries, but exclude advisory/execution only assets, and exclude the assets of your PRI signatory subsidiaries that you have chosen not to report on in OO 03.2
Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.4. Indicate the total assets at the end of your reporting year subject to an execution and/or advisory approach.

04.5. Additional information. [Optional]

Lendlease's global investment management platform spans Australia, Asia and Europe.

Lendlease’s investment management organisation manages A$33 billion in assets under management (AUM) comprised of property assets held across unlisted funds and separate mandates in Australia (A$23.7 billion), Asia (A$8 billion) and Europe (A$1.3 billion).


OO 06. How would you like to disclose your asset class mix

06.1. Select how you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity 0 0 0 0
Fixed income 0 0 0 0
Private equity 0 0 0 0
Property >50% 100 0 0
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Fund of hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash 0 0 0 0
Money market instruments 0 0 0 0
Other (1), specify 0 0 0 0
Other (2), specify 0 0 0 0

06.2. Publish asset class mix as per attached image [Optional].

06.3. Indicate whether your organisation has any off-balance sheet assets [Optional].

06.5. Indicate whether your organisation uses fiduciary managers.

06.6. Provide contextual information on your AUM asset class split. [Optional]

The AUM asset class splits can be summarised as follows:

Commercial office: A$14.85 billion (assets located in Australia)

Retail shopping centres: A$13.75 billion (assets located in Australia, New Zealand, Singapore, Malaysia and United Kingdom) 

Mixed use assets (retail and commercial office): A$3.4 billion (assets located in Singapore)

Industrial warehouses and business parks: A$1.0 billion (assets located in Australia)


OO 07. Fixed income AUM breakdown (Not Applicable)


OO 08. Segregated mandates or pooled funds (Not Applicable)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

100 Developed Markets
0 Emerging Markets
0 Frontier Markets
0 Other Markets
Total 100% 100%

09.2. Additional information. [Optional]

Lendlease Investment Management invests in assets located primarily in the developed markets of Australia, New Zealand, Singapore and Europe (retail assets in the United Kingdom). It also holds an asset in Malaysia (Setia City Mall), an emerging market, however the AUM is not material to this market breakdown.


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