PMG Generation Fund

Managed Investment Scheme

Register Interest

Date prepared and accurate as at: 10 June 2021

Transaction Size
NZD 68,670,000.00
Share Price
Minimum Investment
NZD 1,090.00
Issue Type
Managed Investment Scheme


PMG Property Funds Management Limited (PMG) is one of the most established and trusted commercial property fund managers in New Zealand and is licensed by the Financial Markets Authority (FMA)1. PMG expects to have over $750 million in property assets under management across five unlisted funds, presuming successful completion of the current offer in relation to PMG Generation Fund. Over the past 29 years, PMG have aimed to provide investors with both a regular and reliable income (paid monthly or quarterly, depending on the fund)2 and capital preservation. Investing in real tangible assets can provide security and potential for capital growth over time. Each of PMG’s five funds offers differing degrees of diversification by region, by industry and by tenant.

PMG Generation Fund is one of the five unlisted funds managed by PMG. Established in 2020, the Fund holds a portfolio of three commercial properties located across main metropolitan cities in New Zealand. Since inception, the Fund has delivered a gross cash distribution return of 5.80% per annum to its original investors and has seen a significant increase in the value of its underlying property assets.

The Offer

PMG Generation Fund is seeking to raise at least $68,670,000 to help fund the acquisition of a further two3 commercial properties, in line with the Fund’s strategy to invest and grow a portfolio of strategically selected commercial property assets across New Zealand.

Details of the Offer, including the two acquisition properties, the current property portfolio, and the risks associated with an investment in PMG Generation Fund, can be found in the Product Disclosure Statement (PDS) which is available on the PMG Website HERE.

The Offer is open to all retail investors in New Zealand, for a limited time. The acceptance of applications is at the discretion of the Manager.

Key Investment Information4 (Portfolio as at 30 July 2021)

The addition of the Bethlehem Town Centre (a large format outdoor shopping area in Tauranga), and the Gough Street Property (an industrial property in Wellington), is expected to enhance the scale, quality, and robustness of the PMG Generation Fund – a fund that has already demonstrated real resilience over the past year of economic uncertainty. The following summary highlights the key investment metrics of the Fund’s expected property portfolio, assuming the successful completion of the Offer and acquisition of the two abovementioned properties:

  • Offer price: $1.09 per unit
  • Forecast gross cash distribution return: 5.50% p.a (paid monthly)
  • Minimum initial investment: $1,090 (1,000 units, and multiples of 1,000 units thereafter).
  • Estimated Portfolio Value: $166M
  • Number of Properties: 5
  • Number of Tenants: 60
  • Occupancy: 99%
  • Weighted Average Lease Term (WALT): 4.4 years
  • Loan-to-Value Ratio: 37% 

The Offer is for units to be issued in PMG Generation Fund by PMG Property Funds Management Limited. A Product Disclosure Statement for the offer is available and can be obtained by visiting www.pmgfunds.co.nz. Prospective investors are recommended to seek professional advice from a Financial Advice Provider who takes into account their personal circumstances. Neither PMG Property Funds Management Limited or the PMG Investor Relationships Team provides advice. No person may offer, invite any offers or distribute any documents (including a Product Disclosure Statement) to any person outside New Zealand without the approval of PMG.




  1. PMG Property Funds Management Limited is licensed under the Financial Markets Conduct Act 2013 to manage Managed Investment Schemes (excluding managed funds) which invest in, or own, real property in New Zealand.
  2. Based on historical performance of each fund. Past performance is not indicative of future results.
  3. Assumes successful purchase of 19 Bethlehem Road, Bethlehem, Tauranga (the Bethlehem Town Centre) and 11-13 Gough Street, Seaview, Lower Hutt, Wellington (the Gough Street Property).
  4. Indicative key metrics of the Fund are forecast as at 30 July 2021, assuming successful completion of the capital raise, and ownership of the Fund’s existing properties plus the acquisition of the Fund’s two target properties, amongst other factors. The indicative key metrics are all stated based on draft management information and are subject to change. The valuation of the existing property is $58 million. The forecast gross cash return is for the prospective period from 1 August 2021 to 31 March 2023. It is stated before tax, based on forecast gross distributions per annum expressed as a percentage of the expected unit issue price. Details on how the forecast gross cash return is calculated, and the risks associated with an investment in PMG Generation Fund, can be found in the Product Disclosure Statement, which is available free of charge at www.pmgfunds.co.nz.
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