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F&C Reit considers open-ended UK Commercial property fund launch
by Danielle Levy on Apr 22, 2010 at 10:43
F&C Reit Asset Management is considering launching an open-ended fund to tap into opportunities in the UK commercial property market.
Representing a break from the firm’s current closed-ended offering, which comprises the F&C Commercial, ISIS Property and investment IRP Property trusts, F&C said it was looking to test the water to see if there was demand for property among advisers and whether they would be interested in an open-ended vehicle.
A spokesperson at F&C said that if the launch did go ahead, the firm would most likely opt for a Nurs structure.
He added that the move represented an attempt to broaden F&C Reit’s investor base, which has traditionally been more institutional.
‘We are testing the water to see if there is demand for a new open-ended vehicle. All of the vehicles managed by F&C Reit that are monitored by the IPD have beat their benchmark. We would like to bring their expertise to a wider market,’ he said.
Headed up by executive chairman Leo Noé and chief executive Nick Criticos, F&C Reit currently has a £7.5 billion global portfolio of assets under management and was formed through the merger of F&C Asset Management’s property business and Reit Asset Management in 2008.
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