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
Canada has established its first national-level sovereign wealth fund with a seed of C$25 billion to underwrite “nation-building” projects like ports, mines and energy infrastructure. In an unusual funding mechanism, the fund will issue a retail product that will allow individual investors to invest with the SWF and “participate in Canada’s growth”.
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