Media Release:



                        PFA releases the Net Tangible Assets Report


The PFA is pleased to announce the release of the Net Tangible Assets Research Report – Review of Industry Standards and Usage. The report will be launched on Thursday 30 October, at an event for industry participants.


There has long been recognised that the calculation and use of NTA has created challenges for the industry as the requirements of different stakeholders are met. Regulatory bodies, fund managers and investors each have different expectations of NTA, which in some cases can be difficult to reconcile. This thought piece aims to re-examine the issue of how NTA is calculated by fund managers, based on industry feedback, with the aim of giving a framework to the debate in the current market.


PFA CEO Paul Healy “The PFA is pleased to present a research report on the calculation of NTA. We have worked in conjunction with a number of leading industry participants to formulate this report.”


The report’s primary focus is to understand how fund managers represent NTA under fair value accounting standards.  Moreover, how the use of different methodologies impact the representation of funds to the investor market.  In addition, the report briefly touches on the issues regarding how fund managers can better create “fairness” between all investors and the needs and similarities of open-ended and closed-ended funds with regard to NTA calculations.


The report’s findings enlisted in a range of methods including surveys, analysis of fund manager results and service provider results. “Contributors were invited to participate in round table discussions in Melbourne and Sydney to finalise views on the alternatives available which are now captured in this report. The PFA wishes to acknowledge the valuable input from Moore Stephens into the finalisation of the reports content” Paul Healy.


The PFA continues its commitment to improving relevant industry legislation and governance, facilitating industry growth and ensuring greater transparency in the investment sector. The NTA report is a step forward and offers excellent insights on a relevant industry issue.


For more information or to arrange an interview, please contact:

Paul Healy

Chief Executive Officer

Property Funds Association

This email address is being protected from spambots. You need JavaScript enabled to view it.

03: 9614 0600









Our Address:
Level 17, 500 Collins Street
Melbourne VIC 3000
Tel: 03 9614 0600 Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Subscribe to PFA Newsletter

Subscribe to the PFA newsletter, and be informed of the latest news. Please enter your details to join our mailing list here.