Brooks Macdonald Group, a UK based wealth management group, is set to launch a new Ucits core property fund through its new joint venture North Row Capital.
The new fund called, IFSL North Row Liquid Property fund, will be managed by former Hermes real estate chief investment officer Steven Grahame who developed the concept for the fund.
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Scheduled to be launched in February, the new fund will mainly invest in property derivatives, as well as property equity and debt, to offer liquid exposure to the global real estate markets.
The open-ended fund will aim to deliver a correlation to direct property markets, targeting a yield of 4.5% and 5.5%, and with low volatility.
The fund is currently open to institutional investors with a minimum investment of £1 million. Retail investors have to make a minimum investment of £10,000.
Simon Wombwell, CEO of Brooks Macdonald Funds, said: "Grahame presented us with the idea for the fund and we think it is an excellent opportunity for investors to access a liquid property fund and something which is different to anything else that is available in the market."
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