8 October 2019
DLA Piper is pleased to have advised Booster on the listing of its Private Land and Property Fund (PLPF) on the main board of the NZX.
The PLPF (and related wholesale fund) is a property trust that has been investing for the past two years prior to accepting public contributions, giving investors access to agricultural, horticultural and viticultural land, including income from grape harvests.
Booster is the first new fund manager to list since new NZX Listing rules were adopted earlier this year. The new listing rules are intended to streamline fund listings by providing rules tailored to funds and removing the need for significant waivers.
DLA Piper’s team included Rachel Taylor, Tom Barnes and Jennifer Smith, who earlier advised Smartshares on its listing of an additional eight new funds with asset manager Blackrock. Partner Rachel Taylor says these listings give fund managers more choice. “Liquidity and brand enhancement are important,” says Rachel, “but also some managers are required to invest in listed product, because of the additional regulation in the NZX environment. It’s pleasing to help open new doors like this for investors. Our congratulations to Booster.”
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