Listed property specialist Cohen & Steers has launched two new global listed property trusts, seeded internally with $3 million.
The Cohen & Steers Global (ex-Australia) Listed Property Fund and the Cohen & Steers Global Listed Property Fund will be hedged back to the Australian dollar, and are specifically designed and targeted to wholesale investors. The funds will invest in a portfolio of property securities listed on major stock exchanges including the USA, Canada, Western Europe and Asia. They are benchmarked against the broader S&P/Citigroup Global Listed Property Broad Market Index. The Index includes property developers and contains approximately 100 additional stocks. The funds are available to Australian investors exclusively through Ambassador Funds Management Services. According to Richard Darke, Ambassador partner, the new funds offer significant diversification benefits, as well as increasing risk-adjusted returns over an Australia-only LPT portfolio.
28/02/2006
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Investments
Australia’s sovereign wealth fund has added an active equity strategy from a local boutique manager to its emerging markets allocation and dropped one of its existing providers after signaling it had identified "inefficiencies" in the space.
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