AMP Capital, the Australia-New Zealand investment house, has cut its unit-holding in the AIMS AMP Capital Industrial REIT – real estate investment trust - to 5.01 per cent to return cash to investors after strong gains, and hunt for new opportunities, it said.

The company, which oversees a total of A$126 billion of client money, will continue to control 10.10 per cent of the Singapore-listed REIT due to its direct stake of 5.01 per cent, the 4.99 per cent AMP Capital manages on behalf of its client and the 0.10 per cent in other investment funds managed by AMP Capital.

“We have witnessed the transformation of AA REIT since 2009 when the AMP Capital seed pool made its initial investment as part of our strategy to create a new investment opportunity.  During this time management has successfully built the strength and stability of the REIT nearly doubling its total asset value to S$975 million,” Stephen Dunne, AMP’s chief executive, said.

“Our decision to reduce our unit-holding is consistent with our strategy to return funds to the seed pool for investment to establish new opportunities for our clients.

“As a sponsor, we will continue to support AA REIT management and are committed to retaining a long term interest,” Dunne said.