Just bought ARA Asset Management shares at $1.11 per share. Outlook for the REIT, ARA Asset Management, looks increasingly positive as the impending launch of the US$1 billion Asia Dragon Fund II would "significantly" enlarge its recurrent management fee base. ARA management has said that ADF II fund will launch by 1Q11, which is in line with broker's expectation of a half year contribution from ADF II management fees.
Broker CIMB raises ARA's target price to S$1.35 vs S$1.12.
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