In order to increase its range in property equity funds, Henderson Global Investors plans to launch two funds within the coming months – the UK real estate investment trust (Reit) fund and an absolute return global property fund.
The UK Reits fund, which will be offered in the UK retail market at the end of the year, was formed as a way for the group to capitalize on the expected surge in demand for UK property securities once the proposed Reit legislation takes effect in January.
“The UK Reits fund would complement our existing pan European, Global and Asia Pacific property equities funds in our offshore range,” says Kate O’Neil, director of pan European distribution and director of hedge funds for Henderson’s
Henderson’s launch of the long/short global property fund is expected in the first quarter of 2007. The fund focuses on investments in pan European securities and will dip into other markets depending on the available opportunities.
The fund will be managed in the Cayman Islands and listed on the Dublin Stock exchange with a minimum investment of 100,000.
Though both funds are going through product development, once finalized they will be managed by Henderson’s property equity tram.