State Street Global Advisors (SSGA) has teamed up with CBRE Clarion Securities to launch a new global real estate mutual fund.
Dubbed as State Street Clarion Global Real Estate Income Fund, the open-end fund will invest in an actively managed portfolio of publicly-traded companies that operate commercial real estate and derive a majority of their revenue from rental income.
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The fund aims to provide attractive income, total return as well as growth potential.
The fund will mainly target high-quality companies with well-managed balance sheets as well as above-average cash flow and dividend growth potential.
It also provides with an opportunity to diversify real estate exposure and will be run by co-chief investment officers Ritson Ferguson, Steven Burton and Joseph Smith of CBRE Clarion Securities.
Scott Ebner, senior managing director and global head of product development and research at SSGA, said: "CBRE Clarion Securities’ global footprint, extensive research capabilities and impressive investment track record made them an obvious choice to partner with to meet this increasing demand."
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By GlobalDataRitson Ferguson, CEO and co-chief investment officer of CBRE Clarion, said: "We are pleased to have expanded our relationship with SSGA to offer an alternative to investors seeking global real estate exposure with a focus on income."
