The future of the $7.5 billion AMP Capital Wholesale Office Fund will be decided on July 15 when investors vote on whether to stick with their current management, which is in the process of being bought out by Dexus, or switch to rival manager Mirvac.
The fund’s trustee board issued a notice of meeting on Friday after investors took matters into their own hands last month and requested the meeting themselves.The tussle for control of the fund, which hold stakes in some of Australia’s top office towers, complicates an over-arching deal to take over the running of $28 billion in real estate and local infrastructure funds and mandates managed on the AMP capital platform., the largest single asset managed on the platform, after its proposal to take over the fund’s management was short-listed but ultimately rejected last year by an independent advisory committee .