Investor Presentaiton
dexus
Dexus investment portfolio is a competitive differentiator
dexus
Core investment exposure
Direct interests in
high-quality assets
Portfolio of investments
providing stable and
growing cash flows
Alignment interests in
managed funds
Efficient capital allocation
across a broad investment
universe
Development
projects to sell down
Creation of new product to
attract capital partners and
unlock value for Dexus
Governor Phillip
and Macquarie
Tower Complex,
1 Farrer Place
(NSW)
South and North
Tower, 80 Collins
Street, Melbourne
(VIC)
Real estate funds
across all key
asset classes plus
opportunistic
Infrastructure funds
including support
for recent Royal
Interest in
Atlassian,
Sydney
Adelaide Hospital
(SA) acquisition
(NSW)
Interest in
60 Collins Street,
Melbourne
(VIC)
Growth initiatives
Warehousing
assets to sell down
Support future product
launches, fee generation
and/or trading profits
Opportunity-based
initiatives
Investments that
accelerate execution of
group strategy
Interest in
Jandakot Airport
(WA) prior to
selldown to DJAF¹
MELBOURN
Interest in APAC²
prior to selldown
to WAF3
AMPCAPITAL
AMP Capital real
estate and
infrastructure
platform
APN
APN Property
Group including
two listed REITS in
industrial and
convenience retail
Active portfolio management to continually improve income resilience and return generation
1. Dexus Jandakot Airport Fund.
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2. Australia Pacific Airports Corporation, which owns interests in Melbourne Airport (VIC) and Launceston Airport (TAS).
3. Wholesale Airport Fund.
Investment portfolio with strong income resilience and
increasing focus on investing alongside partners
Investment portfolio allocation
Split by holding type
20
$7.3bn
$13.3bn
$17.4bn
61%
75%
100%
Guiding principles for capital allocation
✓ Each investment opportunity is evaluated based on
its own risk-return merits
✓ Over time, no single sector to comprise >50% of total
investment portfolio
✓ Target development exposure of no more than 15%
of total investment portfolio
39%
25%
✓
FY13
FY18
FY23
Investment in fund vehicles¹
Direct investment
Note: FY23 figures as at 30 June 2023.
1. Includes pooled funds, listed funds, and joint ventures /mandates (DACT, DALT, DITA, DOTA, DJAF and MDAP).
Preference for incremental investments alongside
capital partners
dexus
2023 Dexus Investor Day 11View entire presentation