The New Star International Property Fund has now exceeded £300 million in funds under management in under three months.
New Star says the fund, which raised £206 million at launch, is the first fund of its kind to offer UK retail investors access to international direct commercial property.
New Star says intermediaries and investors are continuing to seek diversification through direct commercial property and that recent volatility in the stock market has boosted the fund’s appeal.
Since launch, the New Star International Property fund has acquired a number of buildings in Amsterdam, Berlin, Hiroshima, Munich, Osaka, Singapore, Sydney and Tokyo.
New Star head of global property Stuart Webster says: “To raise £300 million in just three months is highly encouraging and I thank investors and the intermediary market for the tremendous support they have shown for this unique product.
“There is a strong demand for international direct commercial property and we have already found a number of properties and markets that will form the next stage in the continued growth and diversification of the New Star International Property fund.”