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Henderson on Horizon with global property fund

Henderson Global Investors has set up a Horizon global property equities fund which will invest in listed property securities worldwide.

The fund, which will be managed by Patrick Sumner, is a Luxemburg-based Sicav comprising 16 sub-funds. It will build on the experience that Henderson has developed through its management of around 6.9bn of property assets.

Sumner also runs the Horizon pan-European property equities fund that was launched in 1998 and which has around 102m assets under management.

The recent addition of a distribution share class to the Horizon range means that UK investors do not suffer tax penalties by investing in the Horizon offshore funds.

Sumner believes property has a low correlation with other asset classes and gives strong diversification to a portfolio.

He says: “The expected return from property compares favourably with equities and bonds, especially when adjusted for volatility. A relatively high proportion of the return from the underlying holdings comes in the form of income, which improves price stability but we expect capital appreciation as well.”

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