24 Jun 2011

OnePath sells part of Vital Healthcare

9:01 am on 24 June 2011

OnePath has sold part of its stake in Vital Healthcare Property Trust.

OnePath sold 3.9 million shares on market for $4.2 million, reducing its stake from 8.95% to 7.84%.

ING's funds management and life insurance businesses in Australasia were rebranded as OnePath late last year, and its ING Medical Properties Trust was rebranded as Vital Heathcare.

Unitholders in the trust will vote on a proposal to bring the management contract in-house at a meeting in Auckland in August.