Investors in a shopping center fund, Australian Prime Property Fund Retail, voted down a proposal by superannuation fund Hostplus to replace Lendlease Group (ASX:LLC) as the manager of the fund with rival Mirvac (ASX:MGR), the Australian Financial Review reported Wednesday, citing a source with knowledge of the meeting.

Thirty-five percent of the investors joining the meeting voted in favor of the proposal.

Previous meetings called by Hostplus over the management of a separate industrial fund failed to secure the necessary quorum of investors to allow a vote, per the report.

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