CapitaLand Investment earnings steady as fund income cushions divestment impact
Its fund management gains offset lower property earnings.
CapitaLand Investment Limited (CLI) posted stable growth in the first nine months, as higher fund management income helped offset lower real estate investment contributions, according to a press release.
Fee-related earnings grew on the back of expanded listed and private funds, alongside higher event-driven fees. These gains mitigated the earnings impact of divestments and the deconsolidation of CapitaLand Ascott Trust earlier in the year.
CLI raised $3.7b in new equity across its funds and monetised $2.2b in assets year to date, redeploying capital into projects with stronger returns. Funds under management rose to $120b, supported by new fund launches and the successful listing of CapitaLand Commercial C-REIT in China.
The company said its net debt-to-equity ratio stood at 0.43x, with sufficient cash and credit facilities to support future fund growth and investment activity.