The Russell International Property Securities Fund (RIPSF) has decided diversification and return would be improved if Australia were included.
The RIPSF uses active management to invest in property trusts and property-related companies listed on international stock exchanges predominately in America, Europe and Asia. Until now the fund has been ex-Australia. Bruce Eldelson, portfolio manager for the RIPSF said diversification was the main reason for Australia’s inclusion, and that the fund now represented a truly global approach with “a broader investment set”. As a result of the change in the RIPSF mandate, the Russell Australian Property Securities Fund will move towards a passive mandate by the fourth quarter of 2008, and thus has not replaced recently terminated SG Hiscock.
27/05/2008
bruce, inclusion, ripsf, russell, quarter, set”, diversification, replaced, hiscock, broader, terminated, exchanges
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”.
Leave a Comment
You must be logged in to post a comment.