On December 5, 2024, Fat Prophets Global Property Fund (ASX:FPP) received a formal request from Lanyon Asset Management Pty Limited, a member holding at least 5% voting rights, to call a general meeting. The meeting's agenda is to discuss a resolution to potentially wind up the fund. The responsible entity, One Managed Investment Funds Limited, will review the request and decide on further actions.
The Fat Prophets Global Property Fund (FPP) is facing a potential significant change following a member requisition led by Lanyon Asset Management. This requisition calls for a general meeting to vote on a proposed resolution to wind up the fund, as per regulations in the Corporations Act 2001 (Cth). The fund, primarily investing in REITs across developed markets, has been managed with a strategy focusing on capital growth and distribution income. The responsible entity, One Managed Investment Funds Limited, is tasked with reviewing this requisition and will determine the next steps. This development underscores the influence of significant stakeholders in fund management and the importance of governance in investment trusts.
The responsible entity will thoroughly assess the requisition put forth by Lanyon Asset Management. Any decisions will be made in the best interest of all stakeholders involved. Our focus remains on maintaining transparency and adhering to legal requirements as per the Corporations Act.