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Lendlease

PRI reporting framework 2020

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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 Funds 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 Funds Management Australia’ (LLFM Australia).

Lendlease's Funds Management (LLFM) business manages A$30 billion in Assets Under Management (AUM) comprised of property assets held across unlisted funds and separate mandates in Australia, Asia, and Europe.

LLFM 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 funds 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).

120 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.

31/12/2019

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 assets which are subject to an execution and/or advisory approach. Provide this figure based on the end of your reporting year

04.5. Additional information. [Optional]

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

Lendlease’s funds management organisation manages A$30 billion in Assets Under Management (AUM) (at the end of the reporting period of 31 December 2019) comprised of property assets held across unlisted funds and separate mandates in Australia (A$24.7 billion), Asia (A$4.2 billion) and Europe (A$1.1 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$16.756 billion (assets located in Australia)
  • Retail shopping centres: A$9.744 billion (assets located in Australia, New Zealand, Singapore, Malaysia and United Kingdom)
  • Mixed use (retail and office): A$2.4 billion (JEM or Jurong East Mall located in Singapore)
  • Industrial warehouses and business parks: A$1.1 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.

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

09.2. Additional information. [Optional]

99% of property assets (by AUM) held and managed by Lendlease Funds Management (LLFM) are located in the developed markets of Australia (commercial office, retail and industrial assets), New Zealand (retail assets), Singapore (retail and mixed-use assets) and Europe (retail assets in the United Kingdom). LLFM holds an shopping centre asset in Malaysia (Setia City Mall), an emerging market.
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