Property
Refers to direct property investment, which covers a wide range of real assets including office (commercial), retail (shopping centres), industrial, hotel and leisure as well as residential properties.
Proper authority
An instrument under the Corporations Law which signifies the responsibility of a securities dealer or investment adviser for acts of an employee or agent. Proper authorities are required to be provided to certain categories of employees of fund managers, stockbrokers and investment advisers.
Privatisation
Involves a private enterprise or syndicate purchasing a government asset or service.
Private Placement
The sale of securities not registered with a recognised exchange to institutional investors or wealthy individuals. These transactions are frequently facilitated by an investment bank.