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.”
Amvescap is giving new chief executive Marty Flanagan a pay deal worth 28m after recruiting him from Franklin Resources. His 450,000 salary is supplemented by a 2.6m performance-related bonus and 25m in shares. The firm, which owns Invesco Perpetual, is rumoured to be the continued target of a takeover by Canadian fund manager CI Financial.
Foreign & Colonial investment trust has outsourced management of its American and Japanese assets and introduced an overall performance fee. The 450m US large-cap portfolio will be split between four managers while its 120m Japanese portfolio will be run by Goldman Sachs. Management of the US small-cap business will stay with F&C. F&C says it […]
Having a suitable spread of assets is a prerequisite to good portfolio construction.
Hemisphere Property Management
Hemisphere Property Fund
In recent years, a popular narrative about the global economy has been that it is ‘stuck in a low gear’, with central banks unable to tighten policy. As recently as a year ago, there was much talk about the pros and cons of negative interest rates. This year, however, instead of a barrage of media […]
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