ING Real Estate Entertainment Fund (IEF)
Australia
ING Real Estate Entertainment Fund (ASX code: IEF) is an externally managed ASX listed real estate investment trust that invests in the freehold of a diversified portfolio of entertainment and leisure venues. The Fund receives income through long term leases of the licensed real estate to a wide range of experienced operators. IEF has total assets under management of
$235.6 million with investments located throughout Australia and New Zealand.
Strategy
The long term strategy of the Fund is principally to:
- Maintain considered investment in profitable hotels in strong trading locations;
- Own the freehold interest of the hotels and lease the licensed real estate to experienced operators within the hospitality and leisure sector; and
- Combine the capability and experience of IEF with the trading experience of a variety of operators. Management is working closely with the Fund’s operators to meet the challenges of the current environment which will assist to underpin long term Fund earnings.
Key data as at 30 June 2011
| ASX code | IEF |
|---|---|
| Number of investments | 22 pubs, 15 clubs |
| Assets under management | $235.6 million |
| Weighted average lease expiry | 10.0 years |