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Lifestyle Communities (ASX:LIC), a developer of land lease communities for over-50s, has seen fund managers reassess their positions amid regulatory uncertainty. In March 2026, HMC Capital exited the stock to concentrate on its highest-conviction holdings, Lendlease, Baby Bunting and Ingenia Communities. Earlier, HMC noted a steady start to FY26, with 93 settlements completed and 150 contracts on hand by the AGM, despite the unexpected VCAT decision affecting the sector. Lifestyle Communities operates in the Financials sector within the Real Estate Management and Development industry, and Thesis Tracker has captured 15 comments from 5 fund managers, including HMC Capital. Founded in 2003 and headquartered in South Melbourne, Lifestyle Communities develops, owns and manages affordable land lease communities for downsizers and retirees across Victoria, earning recurring site rental income and development profits from new home sales.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Endeavor Asset Management, Ausbil Investment Management, DS Capital, Yarra Capital Management, HMC Capital and Akambo have invested in Lifestyle Communities Ltd (ASX:LIC).
HMC Capital highlighted steady settlement momentum, a healthy contract book and a decline in completed homes awaiting sale, pointing to improving trading conditions in early FY26 and the appeal of recurring land lease rental income.
Fund managers flag the unexpected VCAT ruling as a regulatory risk for the land lease model, contributing to share price volatility. HMC Capital ultimately exited to focus capital on higher-conviction ideas.
Lifestyle Communities Ltd. is an Australian company based in South Melbourne that develops, owns, and manages land lease communities for seniors. Founded in 2003 by Dael S. Perlov, Bruce Carter, and James L. Kelly, the firm provides independent living options, home designs, and resort-style facilities including sports and entertainment amenities. The company specializes in the residential land lease sector, offering seniors lifestyle-focused housing solutions.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.