UBS Asset Management has secured £45m in new investment for its Triton fund, allowing it to expand its portfolio for the first time since 2008.
Triton was once the UK’s largest fund at £2bn before closing to redemptions at the nadir of the market. It was saved in 2013 with an equity injection of £200m. With the latest close it now totals £835m.
Over the past two years fund manager Howard Meaney has weighted the open-ended fund towards the South East, and in particular London offices, which now comprise 39% of the fund’s assets by value, boosting total returns to 16.3% over the period.
Triton has also invested in industrial and retail warehousing, which comprise more than 50% of the portfolio’s value.
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