French civil service supplementary pension scheme ERAFP has tendered a €150m infrastructure and a €100m private equity mandate, acting on new investment freedoms granted by the central government early last year. Investments must be made in accordance with the €23.5bn fund’s socially responsible investment (SRI) approach for the relevant asset class.The fund – L’Etablissement de Retraite Additionnelle de la Fonction Publique – already makes private equity and infrastructure investments, but this is via a multi-asset mandate run by Amundi.Its decision to invest directly in private equity and infrastructure comes after a central government reform of the fund’s investment framework, effective February 2015. It expanded the fund’s investment universe, having been previously skewed heavily toward bonds due to restrictions on non-bond investments. Today’s tender announcements are a concrete manifestation of ERAFP’s asset allocation shift in response to the lifting of these restrictions. The fund would like to invest in “critical” infrastructure in OECD countries, across equity, quasi-equity and debt, according to tender information.Eligible assets for investment by ERAFP could be part of public/private partnerships (PPPs), the privatisation of state assets or the reduction of private companies’ commitments in infrastructure assets.“The mandate holder’s goal will be to deliver regular returns and optimise long-term performance with a moderate risk approach that will, in particular, take into account the reputation risk for ERAFP and minimise the risks specific to this asset class,” ERAFP said.It is also searching for a private equity investment manager to help it “support the growth, expansion and business transmission projects of unlisted European SMEs and mid-tier companies” by investing in their equity or quasi-equity.Both mandates are for an initial term of 10 years, which ERAFP may extend by two successive periods of two years each.In other news, Novo 2, one of the bond funds ERAFP is invested in alongside other large French institutional investors such as Fonds de Réserve pour les Retraites (FRR), has participated in another Euro private placement (Euro PP) for a French SME. The fund has invested €25m in a €124m unlisted bond for Laboratoire Français du Fractionnement et des Biotechnologies (LFB), a 100% government-owned biotech company. Managed by Thikehau IM, Novo 2 recently invested €10m in a €60m, seven-year private placement for Direct Energie, France’s third-largest electricity and gas provider. Also, Caisse des Dépôts et Consignations, the French public sector lender, is setting up a €100m institutional investor-targeted fund to invest in social enterprises. The platform has been dubbed InvEss and is being set up in co-operation with French social finance association Finansol.
The chair will appoint a new chief executive to implement this growth strategy. The organisation is looking for a senior executive from the investment world who is “disturbed by its impact on society and free to challenge it to be a more responsible and socially useful actor”. The application deadline is Friday, 1 June. More information is available on the Preventable Surprises website.Thamotheram writes a monthly column for IPE, Long Term Matters.Barings – Former US policy adviser Christopher Smart has joined the asset manager as head of macroeconomic and geopolitical research to lead a newly established team exploring the impact of economic and political developments on financial markets.A member of the Council on Foreign Relations, Smart spent six years as a senior policymaker for international economic affairs under US president Barack Obama, and was the special assistant to the president at the National Economic Council and the National Security Council from 2013 to 2015.Pension Protection Fund (PPF) – The UK lifeboat fund for pension schemes has appointed Chris Cheetham and Emmy Labovitch to its board as non-executive directors. Cheetham joined on Tuesday, while Labovitch will join the board on 1 July, following the end of Sharmila Nebhrajani’s term of office in late June.PPF chairman Arnold Wagner said: “Emmy brings with her a wealth of international pensions, investment and governance experience. Chris’s strong background in asset management will be equally invaluable. Both will help the board to continue to serve the interests of our members and levypayers, giving them security and confidence.” PGGM, Preventable Surprises, Barings, PPF, Mobius Capital Partners, PME, Legal & General, PGB, JLT, Robeco, DWS, PGIM, Institute and Faculty of Actuaries, AlphaSimplexPGGM – Alexandra Phillippi became the new chief operations officer (COO) of Dutch pension manager PGGM on 1 May. She joins the board of directors of and replaces Harry Vossebeld on the executive committee, who has left after eight years as COO.Phillippi was previously at ABN Amro where she worked since 1993, most recently as managing director for international business services.Preventable Surprises – The responsible investment think-tank and advocacy group is looking for a new chair to replace Raj Thamotheram, who is stepping down for health reasons. His successor will be chosen with a view to taking Preventable Surprises from “cottage industry to industrial scale”. Mark MobiusMobius Capital Partners – Renowned emerging markets investor Mark Mobius opened his new asset management company, Mobius Capital Partners, on Wednesday with the announcement of a raft of hires. He is joined in the new venture by founding partners, Carlos Hardenberg and Greg Konieczny, both emerging market specialists with four decades of investment experience between them. Hardenberg had previously been the manager of Franklin Templeton’s Templeton Emerging Markets investment trust, alongside Mobius. Konieczny was also with the US asset manager, formerly as manager of its Templeton Eastern Europe fund.Mobius retired from Franklin Templeton in January after 30 years with the company.PME – The Dutch pension fund for the metal and electrical engineering sector has appointed pension lawyer Monique van der Poel to its board of directors. She currently works for EPB and is also a PhD student at the Vrije Universiteit Amsterdam. She succeeds Henri Kroezen, who retired at the end of 2017.Legal & General – The UK insurer has appointed David Butcher to the board of trustees for its £4.5bn defined contribution master trust. He is a former CEO of Invesco Perpetual’s pensions business, and was a non-executive director of BlackRock’s pensions arm between 2005 and 2009.He currently chairs the board of the Optimum Health Clinic Foundation, a UK charity specialising in research into chronic fatigue syndrome. The Legal & General Mastertrust caters for more than 80 schemes and 700,000 members.PGB – Freek Busweiler has been appointed to the Dutch multi-employer scheme’s management board to act on behalf of pensioners. Busweiler will focus on communication with members. Until recently, he was on the accountability board of PGB. He is a former board member of Pensioenfonds PostNL .JLT – The UK consultancy has hired Michael Wray as chief operating officer and director of strategic investment solutions. Wray has held senior investment strategy roles at Fidelity, Blackrock, Kempen, and Henderson. Robeco – The Dutch asset manager has appointed André van den Heuvel as head of institutional sales for the Netherlands and the Nordics as of 1 May 2018. Van den Heuvel joins from Actiam where he was head of business development, responsible for relations with institutional clients, marketing and communication. He has also held senior client-facing roles at NN IP, BlackRock and F&C.DWS – Neel Mehta has been appointed chief financial officer of the asset manager’s global private equity business. Mehta will lead the fund finance and accounting functions, working alongside the senior investment team to drive growth and support DWS’s €2bn in private equity secondaries. He was most recently finance director at Mayfair Equity Partners.PGIM Fixed Income – The asset management business of Prudential Financial has hired Kunal Patel as a vice president covering UK pension funds, insurance companies and consultants. Patel was most recently a vice president at PIMCO in London, where he was responsible for coverage of investment consultant firms and UK pension client relationships. Before that he worked at Deutsche Bank. Institute and Faculty of Actuaries (IFoA) – Annette Spencer has been appointed director of public affairs and research at the UK body for actuaries, while Sarah Sim has been promoted to a new role of director of market development. They will both join the IFoA’s senior leadership team.Spencer has worked in a variety of public relations and communications roles, most recently at the Investment Association, the UK asset management trade body. She has also worked at Zurich, RSA Insurance, the Universities Superannuation Scheme and the Financial Conduct Authority. Sim joined the IFoA as head of global markets development in December 2016 having previously worked as a director at the Association of Chartered Certified Accountants.AlphaSimplex – The hedge fund firm – an affiliate of Natixis Investment Managers – has hired Kathryn Kaminski as chief research strategist. She joins from the Massachusetts Institute of Technology’s Laboratory for Financial Engineering. She has worked for several asset management firms, most recently Campbell and Company, a systematic, quantitative investment firm.
Investors are expected to move away from using pooled funds as the primary way of accessing alternative asset classes in the next five years, according to data provider Preqin.Almost half (45%) of surveyed fund managers indicated they expected less capital to be invested through pooled funds, although only 15% of investors said the same.Fund managers viewed separate accounts and co-investments as most likely to see greater investment, with 39% and 42% anticipating this change, respectively.Just over one-third (34%) of investors expected an increase in co-investments, and 24% thought more capital would flow to separate accounts. Chris Beales, editor of Preqin’s ‘Future of Alternatives’ report, said the findings supported talk about increased competition in alternatives.“With capital more often than not in the hands of a small number of investors, fund managers are looking to stand out from one another, enticing investors with more customisable fund structures,” he said.#*#*Show Fullscreen*#*# Source: Preqin fund manager and investor surveys, June 2018“While pooled funds have in the past accounted for the majority of capital in alternatives, a significant proportion of fund managers expect this balance to shift.“They predict a rise in co-investment activity, as well as more separate and managed accounts – structures that offer investors more control and often lower fees.”Preqin’s survey also showed that alternative asset managers were expecting to source less capital from banks and fund-of-funds managers, with almost two-thirds of those surveyed predicting that family offices would play a more important role.In terms of investor geography, the largest proportion of fund managers (60%) expected to source more capital from Asia-Pacific-based investors over the next five years, while almost a third (32%) anticipated less coming from those based in North America.Fund managers’ expectations for European investors were fairly evenly split: 37% anticipated sourcing more capital from the region, 29% less and 34% projected no change.
“Since the market bottom of 23 March, the Stockholm stock exchange has risen almost 40% and both credit and government bond markets have performed strongly,” Cederberg said.In the January-to-June report, Kyrkans Pensionskassa also said it had now divested the last hedge fund investment it owned, having sold its entire investment in the hedge fund Nordkinn in April for SEK235bn.Among other major transactions during the six-month period, the fund said it made a new infrastructure investment, committing SEK700m to Infranode II, a fund run by the Swedish firm which it said invested across the Nordic region and held assets in energy, transport, digital and social infrastructure.Kyrkans Pensionskassa reported a 0.9% loss on investments in the six-month period, although total assets grew slightly, rising to SEK20.87bn at the end of June from SEK20.84bn at the close of 2019. Sweden’s Kyrkans Pensionskassa scooped up more than half a billion kronor of equities and real estate after asset prices markets plummeted in March, and has divested the last of its hedge fund investments, according to its latest interim report.In the report released yesterday, chief executive Carl Cederberg said the Swedish church pension fund took advantage of dramatic market falls in the early stages of the European COVID-19 crisis to buy assets cheaply, reasoning that markets normalise sooner or later.“What is certain is that we do return to a ‘normal situation’ even if we can’t know how long the uncertainty will last,” he said.Because of this thesis, he said Kyrkans Pensionskassa bought SEK575m (€56m) of equities and unencumbered real estate at the end of March.
More from newsParks and wildlife the new lust-haves post coronavirus18 hours agoNoosa’s best beachfront penthouse is about to hit the market18 hours agoOutside 259 Forestdale Drive.The main house has four bedrooms and two bathrooms and the granny flat has a separate bedroom, bathroom and kitchen. It was purchased by the family after it had been on the market for 20 days. Younger families were moving to Forestdale in larger numbers according to Mr Aston, in part because it offered a more commutable alternative to many other acreage suburbs. “It’s only about 28 minutes (to the city),” Mr Aston said. Perfect for large families.“It is good for people that are wanting a bit more space but do not want to go further out.”The median sale price for a house in Forestdale is currently $770,000, which is a jump of 4.8 per cent in the past 12 months.“They are pretty well sought-after,” he said. 259 Forestdale Drive ForestdaleA LARGE property was snapped up by a family that liked its dual living potential.The Forestdale home at 259 Forestdale Drive was the second biggest sale across the Albert and Logan region for the week when it sold for $845,000. Agent Jay Aston from All Properties Group said the buyers really liked the granny flat to the side of the house for an older family member.
Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 2:06Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -2:06 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenTom Panos Real Estate Gym02:06NEW findings show most sellers have unrealistic price expectations, exceeding market values by up to $50,000 or more.The survey – commissioned by real estate auction live-streaming and bidding technology company Gavl and data and insights company Pureprofile – interviewed 1001 Aussies in the market to buy or sell property. A separate survey was conducted by Gavl to compare these findings with those of real estate agents. Ninety-two per cent of agents said vendors had unrealistic price expectations when selling their properties, and 55 per cent admitted that generally, vendors’ sale expectations were above market price expectations by $50,000 or more. A further 36 per cent of vendors generally had expectations up to $50,000 above the market price.When consumers were asked whether they would adjust their price guide based on agent feedback on market expectations, 52 per cent said they would adjust it only slightly. The good news for agents is that 39 per cent of vendors said they would adjust their price expectations to match the agent’s.To compare, 77 per cent of agents said vendors took on their advice most of the time, while just 7 per cent believed vendors would take their advice every time.Real Estate Institute of Queensland Far North zone chairman Tom Quaid said the current market “still retains some mysteries, even for seasoned agents and sellers”.“While there have been some fantastic results coming through in segments, in others it can still be pretty unforgiving when things aren’t quite right with a sale, whether that’s due to price, positioning or presentation,” he said.“A good agent will always work to gain feedback from buyers to help ensure their client’s property is hitting the right mark with those three factors. More from newsCairns home ticks popular internet search terms2 days agoTen auction results from ‘active’ weekend in Cairns2 days ago“When it isn’t hitting those marks, then that feedback becomes invaluable in resetting the property to get back on track and secure the best result. “Agents are employed as experienced professionals in selling your home – it’s important that sellers make the most of that experience.”Gavl spokesman and auctioneer Justin Nickerson said managing sales price expectations was always a challenge. He advised vendors to do their own research on the local property market and understand how local property sales were tracking.
1 Cactus Court, Kingscliff. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 4:18Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -4:18 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels576p576p400p400p320p320p228p228pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenNovember 6: Prestige listings04:19 1 Cactus Court, Kingscliff.LJ Hooker Kingscliff agent Nick Witheriff, who marketed the property with colleague Carol Witheriff, said the family fell in love with the house as soon as they saw it.“They were here on holiday staying in the local Salt Village,” he said.“They saw it and just loved it.More from news02:37International architect Desmond Brooks selling luxury beach villa13 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days agoMORE NEWS: Coast’s ‘secret garden’ 1 Cactus Court, Kingscliff.A SUMMER getaway to Kingscliff became one of the most expensive for a Canberra family after they splashed almost $2 million on a mansion.The extravagant Cactus Court property sold for $1.785 million last week.With towering windows, a spiral staircase leading up to a rooftop deck and street-facing infinity pool, it is one of the most prominent homes in Kingscliff’s Salt Village precinct. MORE NEWS: Property prices are soaring in one Coast suburb 1 Cactus Court, Kingscliff. 1 Cactus Court, Kingscliff.Property records show it last sold in 2010 for $2.95 million.The four-storey house on a 976sq m corner block hit the market in October and was passed in after it went under the hammer on November 7.Mr Witheriff said there was a lot of interest in the property in the three months it was on the market.“We probably had about 25 other enquiries throughout the process,” he said.It has four bedrooms, four bathrooms, a tiered theatre room, outdoor entertainment area and five water features. The loft-style main bedroom with spa ensuite and balcony as well as the 12-car basement garage are serviced by an Italian-designed lift, which Mrs Witheriff last year described as “glitzy”. 1 Cactus Court, Kingscliff. “They’re a young family from Canberra and they’re looking at moving up here to do an extensive renovation.”Mr Witheriff said they wanted to do a “fair bit” of work on the interior to make it more modern.Despite fetching just under $2 million, the home sold at a $1 million loss.
Porcelain tiles run through the open living areas.More from newsDigital inspection tool proves a property boon for REA website3 Apr 2020The Camira homestead where kids roamed free28 May 2019“We did the ensuite, and the bathroom and laundry, put in a full kitchen and all new carpets,” he said. This Riverhills property is for sale now for $625,000.RIVERHILLS has recorded the highest median house price increase across the Centenary Suburbs in three months, with homes like this four-bedroom lowset offering homebuyers affordability and low maintenance.CoreLogic market trends data released last month shows median house prices increased by 2.8 per cent to $511,300 but still remain the most affordable in the Centenary Suburbs catchment.Location was the reason Dan Winfield bought his house at Riverhills four years ago, and he has enjoyed the challenge of turning the 1980s lowset into a relaxed modern home, with privacy at its core.An electrician by trade, Mr Winfield has overseen the entire renovation from the laying of 600mm x 600mm porcelain tiles which are used throughout the main living areas, to the external rendering and paintwork. The master bedroom with new carpets and airconditioning.“We widened the front entrance right up and put in ducted airconditioning, that’s my favourite part.“On those hot days over Christmas you just keep the airconditioning running.“Any house I do, I’ll have ducted airconditioning put in.”The addition of a secure front fence has also added to the sense of privacy. New fencing creates privacy in the outdoor area.“I can leave the front door open and the dog can run around and you feel completely safe.”The most recent addition has been landscaping, including new garden beds, turfing and tropical planting.
The kitchen flows to the dining and living areas.The green outlook was just one of the factors that attracted the couple to the house, with the design of the building another.“We moved up from Sydney … and when I saw the pitched roof and the character, that’s what my husband and I fell in love with,” Ms Souk said.More from newsParks and wildlife the new lust-haves post coronavirus13 hours agoNoosa’s best beachfront penthouse is about to hit the market13 hours ago The ensuite and walk-in wardrobe.“I believe every room in a house should always create a sense of spark or positive energy. For this reason, the lounge room is a big favourite space of mine as it is really bright and airy.”There is also a bathroom and laundry on this level.Downstairs is the master suite, which has a walk-in wardrobe, ensuite and a study or retreat space. Timber is a constant feature throughout the house.The house has three bedrooms across two levels, and an open-plan kitchen, living and dining area.This space has polished timber floorboards, a fireplace, soaring ceilings and opens out to a deck and alfresco dining area. Ms Souk’s creative space.One of the upstairs bedrooms served as a creative space for Ms Souk. “If I wanted to do a bit of painting, or whiz together a dress I would go in there.”She also styled the home herself.Ms Souk and her husband have enjoyed living at the house with their dog, groodle Ari.The property is being marketed by Anthony Pasmore of Ray White Metro West. Cookie Monster is a regular visitor to the house. They even made friends with a regular visitor to the house, a kookaburra they had dubbed Cookie Monster.“He became a regular, every time I would put a little white bowl on the bench, he would look at me and fly in and I would hand feed him,” Ms Souk said.“Little details like hat makes the house come to life.” Look at the wonderful ceiling and fireplace.A SMALL white bowl on the kitchen bench signals to a local kookaburra to fly into this Indooroopilly house for some tucker.Kara Souk and her husband Aaron Taylor bought the 18 Kate St property in 2014 and had since enjoyed the local birdlife. Groodle Ari love living at the house.Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:51Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:51 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD576p576p432p432p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenStarting your hunt for a dream home00:51
Townsville Turf Club redevelopment after the floods. Grandstand. Picture: Zak SimmondsThey are set to create new local jobs, improve liveability and boost the economy as it continues to recover post floods.Townsville has also recently secured its largest sporting event to date, which is set to pump more than $16 million into the economy. A flooded suburb is seen from above in Townsville in February. (AAP Image/Andrew Rankin) NO ARCHIVINGOver the March quarter, the volume of house sales dropped by 27 per cent, which is a likely reflection of the 3000 reported properties damaged in the floods, according to the latest REIQ’s Quarterly Market Monitor Report. Damien Keyes on The Strand, Townsville.“I think with these big projects, it just shines a light on Townsville,” Mr Keyes said.“We will get the initial injection of all these people coming to the region in places like restaurants and local businesses, but also people will pay attention to how great our market conditions are.“It will put Townsville on the radar for a lot of people in terms of where they look to buy.” Piles of house contents destroyed in the Townsville floods line the street in RossleaMore from newsParks and wildlife the new lust-haves post coronavirus12 hours agoNoosa’s best beachfront penthouse is about to hit the market12 hours agoVacancy rates in Townsville also tightened from 4.3 per cent in December to 1.5 per cent in March, forcing rents upward, with the median rent increasing $18 for a three-bedroom house and $30 for a two-bedroom house. However, it’s not all bad news; as rents have increased, so has the gross rental yields for investors, and with major investment in infrastructure projects scheduled for the region, experts are predicting the economic boost to flow through to the property market. The $7.4 million Reid Park Active Transport Bridge in Townsville City, along with the $2.35 million Magnetic Island Forts Junction Hub upgrade, have received State Government funding. Concept plans for Townsville’s winning bid to secure the 2021 ITU Multisport World Championships.The ITU Multisport World Championships in 2021 will attract more than 8000 athletes and spectators to Townsville. REIQ Regional Director Damien Keyes said while the floods were disruptive, the market was heading upward before Christmas and with a stable government and infrastructure investment on the way — things are looking bright for the region. The devastating floods that swamped Townsville in February have receded, and the reconstruction mission is well underway, with green shoots already sprouting for the local property market. (AAP Image/Dave Acree) NO ARCHIVINGNew data has reiterated that Townsville’s housing and rental market bore the brunt of the impact from the flood event earlier this year. While the figures only account for one month of data after the flood, they tell a clear story of how the property market has been affected. INTERACTIVE: HOW MUCH IS YOUR HOUSE WORTH?