Asset manager Janus Henderson Investors has launched a global property equity fund for UK investors, targeting opportunities created by structural changes in the market.
The Janus Henderson Global Property Equities Fund will focus on opportunities across the listed sector, including alternatives and non-benchmark sectors.
Announcing the launch, the New York and Australia-listed asset manager said: “Real estate is a continuously evolving asset class where structural trends are creating opportunity in select parts of the market and rendering some historically core property types to be less relevant. The new fund takes a highly active and differentiated approach to fundamental research, ESG integration and portfolio construction.”
It will typically hold a concentrated portfolio of 50 to 60 holdings comprising the team’s “highest-conviction ideas”.
As with the asset manager’s existing fund vehicles, the Global Property Equities Fund will be managed by Guy Barnard (pictured), Tim Gibson and Greg Kuhl, supported by a global team in London, Singapore and Chicago. Collectively, they manage £2.8bn of assets across listed real estate markets and have a strong long-term track record of outperformance.
The fund will aim to deliver long-term capital appreciation by investing in a globally diversified portfolio of REITs and listed property stocks. It will be available as an OEIC in the UK to retail, wholesale and institutional investors, and will be managed as part of the firm’s long-standing SICAV (investment company with variable capital) and US mutual vehicles. The minimum investment is £3m and the annual management charge is 0.75%.
Guy Barnard, co-head of global property equities at Janus Henderson Investors, said: “We believe REITs should be a building block within any truly diversified portfolio, providing investors with a liquid, diversified and low-cost way of accessing the property market. With this launch, we are excited to offer a truly global and actively managed real estate portfolio to UK investors, providing this in a vehicle that invests purely in liquid property shares, which will not experience the same liquidity constraints faced in many direct property funds.”
Simon Hillenbrand, head of UK retail at Janus Henderson, added: “We see property equities as a core capability of our offering. This strategy was first launched in 2005, and in that time the global property equities team has built a long and successful track record.”
Janus Henderson Group is headquartered in London and listed on the NYSE and the ASX.
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