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An office building in Christchurch, owned by PMG's Pacific Property Fund.

Tauranga-based PMG Funds has passed $1 billion in assets under management, with the company targeting further growth of its flagship fund.

PMG manages a number of unlisted property funds, which retail and wholesale investors can take part in.

Since moving to the unlisted fund model in 2014, PMG has returned more than $190 million in gross cash distributions to its retail investors.