Prime Value launches fund amid anniversary

As Prime Value Asset Management celebrates its 25-year anniversary, the boutique manager has released a new alternative assets fund targeted to wholesale, high-net-worth (HNW) investors and family offices.

The Prime Value Retirement Living Fund 2 will invest in four A-Grade retirement villages in Victoria which make up around 900 dwellings that are almost fully occupied.

“The retirement living sector has grown significantly over the last 15 years, and offers investors an investment with reliable cashflows underpinned by residents’ average age and average length of stay,” Prime Value Asset Management co-founder and CEO, Yak Yong Quek, said.

“Retirement villages are in strong demand due to Australia’s ageing population, combined with ongoing housing supply shortages.

“These assets have been acquired at an attractive price and represent good potential returns for investors, via a combination of regular income and capital growth.”

The launch of this fund comes three years after the manager’s first retirement living fund hit the market in 2020, offering four villages and 834 dwellings. It has delivered an internal rate of return (IRR) of over 20 per cent to date.

It also is the latest in a string of investment releases from Prime Value, including other funds in direct property, income securities and alternative assets in addition to its primary equities funds.

“We as a family office co-invest and aim to Build Wealth Together with our investors, and are passionate about our role as a steward for our investors. All our fund managers are also co-investors. We are in it for and with our investors, which is a unique and powerful force”, Quek said.