AMP Capital Investors has sold the management rights for the listed industrial property fund, Property For Industry, to Auckland property firm DPF Management.
The value of the deal is confidential. It covers the management rights for all Property For Industry's 50 properties worth more than $350 million.
It has been reported that AMP Capital's management fees fell 3% to $933,000 in the first half of the financial year.
DPF Management, an Auckland-based property company with six shareholder groups, is to take over in January.