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FET shrugs off volatility as it builds childcare centre pipeline

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The securities of Australia's biggest listed childcare centre owner, Folkestone Education Trust, rebounded on Tuesday after the trust reported a strong set of full-year results backed by an $89 million development pipeline and revealed that it had acquired a 4.5 per cent stake in rival childcare landlord Arena REIT.

FET securities were up around 2.4 per cent to $2.11 in late trading, reversing some of the previous day's slide when they fell almost 7 per cent on the back of the plunge in global equities markets.

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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com

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    Original URL: https://www.afr.com/property/commercial/fet-shrugs-off-volatility-as-it-builds-childcare-centre-pipeline-20150825-gj6w0m