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Goodman grows AUM to over AUD24bn in Q1 FY2014

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Goodman Group, an industrial operator and fund manager, has seen assets under management grow to over AUD24bn during the quarter, up from AUD23bn at 30 June 2013.

With total assets under management rising to over AUD 24bn and with undrawn debt and equity commitments at AUD 6bn, the group has the financial capabilities to further grow assets under management in the short to medium term. During the quarter, AUD1.8bn of third party equity was committed from global institutional investors supporting sector specialists with solid and proven development capabilities.
 
Goodman's development activities continue to grow strongly and it remains one of the largest developers of industrial property in the world. Structural changes in the occupier market have driven the development pipeline to AUD2.5bn across 69 projects. 
 
Goodman's group chief executive officer Greg Goodman (pictured) says: "Goodman experienced robust underlying operational activity in the first quarter of FY2014. With developments underway across all regions, we continue to benefit from the diversity of our global operating platform, specialist sector and development capability, proven ability to access third party capital and strength of our customer and investor relationships. The quality of our product offering is reflected in the high occupancy rate of 96 per cent across the portfolio.
 
"When combined with the focused and disciplined execution of our prudent business strategy and day to day operational activities, Goodman is well positioned to take advantage of future growth opportunities, which in turn gives us the confidence to reaffirm our FY2014 earnings guidance of operating earnings per security of 34.3 cents, up six per cent on FY2013."

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