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Selestia adds property to website

Selestia has added property to its multi-manager proposition and announced two new property funds will be available from Norwich Union and Edinburgh Fund Managers to its website.

The new funds will be available from this week and can be accessed through Selestia&#39s investment account, investment bond or offshore collective investment bond.

It has chosen NU and EFM&#39s funds because they invest directly in property rather than in property shares, which it says tend to follow the fortunes of the stockmarket thereby reducing diversification benefits.

Selestia managing director Brett Williams says: “Property is an excellent diversifier. There is relatively little correlation between variations in property and other major asset classes such as cash, fixed interest and equities, so it can provide further risk reduction for the same anticipated level of return.”

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