New Star launches global property vehicle
Focus on distribution in Hong Kong and Singapore will bring the companyÆs latest fund launch to private placement and bank investors.
United Kingdom-based big boutique New Star Asset Management is launching a global property vehicle in May.It will be sold through private banks, fund-of-funds platforms and insurance companies with which New Star has a pre-existing relationship in Hong Kong and Singapore.Cobus Kruger, New Star InternationalÆs director of mutual funds, says the portfolio will target a return of 10% and an annual income yield of up to 5%.The fund, which was inspired by a request from a family office in …
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