Skandia Investment Management Ltd is to launch a property shares fund with LaSalle Investment Management (Securities).
The Skandia Global Property Securities (LaSalle) Fund will invest globally in a range of property shares including REITs and listed property companies. The fund has been seeded with £10m and will target a 4.25% return.
SIML chief executive Jamie MacLeod said: “The new fund investors can gain access not only to an exciting new investment opportunity that has a track record of delivering strong performance but also offers attractive diversification opportunities against equities, bonds and the UK property market.”
Minimum investment in the fund will be £1,000 or £50 per month. It will be marketed through independent financial advisers and Skandia’s investment portfolio, including the fund supermarket, onshore and offshore bonds and pension fund ranges.
LaSalle IMS’s managing director Todd Canter said: “The Skandia Global Property Securities (LaSalle) Fund not only gives UK investors access to a market that has demonstrated strong returns over the past 20 years but, importantly, also offers them the potential for further portfolio diversification.”
A LaSalle spokesperson added that the company estimates the global property shares market to be currently over $550bn, while the REITs market has doubled in the past 12 months.
LaSalle IMS currently has $5.2bn of assets under management.
The fund is due to be launched on October 3.
