Asset managers must better align their interests with those of their investors in order to be successful, according to a panel of top-tier managers at Estates Gazette’s Property Asset Management Summit this week.
“The way that we manage capital is to make sure that our alignment of interest is in the interest of our partners. The key thing is to convince people that you are aligned with them and the mistake is to take assets under management without doing this,” said Richard Croft, chief executive of M7 Real Estate (pictured).
Along with financial alignment, the personal relationship between investors and managers is also crucial.
“Property is a people business and you must never forget that the way to get an investor over the line is based on trust and a good relationship,” said John Maddison, partner at Quadrant Estates.
Matt Kelly, founder of Anglezark, added: “When you meet people, you have to understand totally what their objectives are and how you are going to invest their money.”
To listen to a podcast with Croft as well as a guide to the upcoming EPC ratings deadline and business rates appeals, go to www.estatesgazette.podbean.com
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