PROPERTY INVESTMENT FUNDS: Steadfast governance in times of economic flux

Dr Wayne Beilby Chairman of the Board, PMG Funds

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This year, PMG Funds officially welcomed Dr Wayne Beilby as Chair of the Board after five years as Independent Director. His wealth of experience and intimate knowledge of PMG has been highly valuable to support resilience and continued growth. Wayne shares his thoughts on the importance of good governance and strategy when navigating challenging economic environments.

A year of challenge and opportunity

The echo of shifting economic tides has resonated across New Zealand’s investment landscape in 2023, presenting both challenges and opportunities for investors. According to Wayne, it’s exactly these types of turbulent seas that differentiate the skilled sailors from the less experienced ones.

“PMG’s reputation for growing wealth has been built on 30 years of prudent, hands-on management and meaningful relationships with investors, tenants and partners.

“Our sound governance and strategy now offer our four generations of investors a sense of stability, as they can trust in Scott and the team to steady the waka through challenging economic times.”

Building investor confidence through guardianship

Wayne’s background in governance and leadership across the risk, financial management and corporate law sectors means he is well-positioned to lead the board and executive to deliver PMG’s long-term vision.

“It’s important to have strong leadership and a clear vision for where you want to go,” says Wayne.

“When I stepped in as an Independent Director six years ago, the purpose of my role was to provide objective insights into the discussions in the boardroom – a fresh pair of eyes, if you will. As Chair, in a way that is still what I do, however I’m now more focused on driving the strategic direction of the PMG business to ensure continued long-term growth.

“PMG’s governance framework is anchored in resilience, adaptability, and a commitment to ethical practices, acting as guardians of investors’ wealth, tenants’ business success, and the staff’s success and wellbeing.”

“I see a lot of genuine care and personal drive by the team to achieve results for our investors, ensuring that the funds are as robust as they can possibly be. This means regularly reviewing the portfolio asset allocation, diversification of fund assets and levels of gearing,” says Wayne.

A sustainable vision for the future

PMG’s proactive stance on Environmental, Social, and Governance (ESG) factors stands as another example of its visionary governance approach.

PMG’s engagement in sustain-ability initiatives predates industry norms.

Wayne believes this not only reflects a commitment to responsible investment practices, but more pragmatically also positions its funds to perform well under potentially more stringent environmental regulations, contributing to improved environmental performance and reduced costs for tenants.

Beyond sustainability and sound strategy, PMG also places emphasis on diverse expertise, backgrounds, and age within its leadership team.

Acknowledging the influence of rapid technological advancements, Wayne highlights the necessity of diverse perspectives to navigate the evolving landscape, ensuring PMG remains adaptive and innovative in its strategy and management approach.

Resilience is built on strong foundations

This commitment to essentially doing the right thing means that many investors view PMG as a safe pair of hands, while also offering a means for keen commercial property investors to tap into a typically tougher investment market.

Wayne (of Ngāti Pukenga, Ngāti Ranginui and Ngāi Te Rangi) likens PMG’s relationship-based, collaborative approach to investment and commercial property management to the te ao Māori worldview.

“In some ways Denis McMahon, who started PMG back in 1992, unknowingly built a business on Māori principles of guardianship and family – and I believe this has been a key to setting us apart, and enabling our resilience,” says Wayne.

“I have seen them take a careful stewardship approach’ to balancing short term costs with ensuring long term performance, but always remaining committed to PMG’s vision and principles.”

“I have full confidence in Scott and the team’s ability to continue to provide ease of access to commercial property investment for more Kiwi investors, so they can enjoy the benefits of regular and sustainable income, with the potential for growth in value over time.”

Disclaimer: The information in this article is of a general nature and was current as at Wednesday, 22 November 2023. It is not intended to be regulated financial advice for the purpose of the Financial Markets Conduct Act 2013 and does not take your individual circumstances and financial situation into account. PMG does not provide financial advice. Please seek advice from a licenced financial advisor before making any investment decisions.

Related: PMG’s push for increased youth financial literacy

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