Marriott Unit Trust Company has closed three of its unit trust funds that invest in listed property investments to new investments. Marriott says it is concerned that current yields in the listed property sector may be unrealistic and will not be sustainable within the next 12 months.
Marriott's two property funds - the equity and income funds - are the two giants of the unit trust sector which invest in the listed property sector (not to be confused with the property unit trusts in the sector that hold property portfolios). They have been delivering what they promise - "high and growing income for retired investors", says Marriott's fact sheet.
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