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32M for Sarasin global Reit

Sarasin says its new global real estate investment trust has attracted 32m since its launch last November.

The global property fund, which was launched as an FSA-recognised Guernsey unit trust, mainly invests in global Reits but also invests in listed company shares.

The fund aims to pay an annual income of 4 per cent per year and targets additio- nal capital growth. The fund aids portfolio diversification on a number of levels, including investing in property rather than equities and bonds and by a broad spread within the fund of between 50 and 60 investments.

It is moving away from residential property into comm- ercial propeserty and invests globally.

Sarasin has hired Jones Lang Lasalle to advise on asset allocation across global markets and sectors and UBS to provide analysis of the stocks within the listed property sector.

Sarasin spokesman Ivo Forde says: “The fund seems to be going down well with IFAs because of its diversification and global nature, the fact that it has an attractive though undemanding yield as well as offering liquidity, and it has daily pricing which is unusual for a property fund.”

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