NEW SCHRODERS PROPERTY FUND
Schroders has announced the launch of a new property fund. The Schroder global property income maximiser fund will aim to provide a regular income stream through exposure to global property securities. Subject to FSA approval, it will be opened to investors in February 2011. The fund is broadly similar to Schroder’s existing global property securities fund, but with a greater exposure to securities likely to generate income rather than growth.
FUND MANAGERS AREN’T POINTLESS
Research from the Yale School of Management has found a strong link between “active share” – the extent to which a fund’s holdings differ from its benchmark’s – and future performance. That should help make it easier to identify which funds are skilfully managed, and so worth investing in, and which funds are merely managed by “closet indexers”. According to the research, skilled confident stock pickers can consistently beat benchmarks and so justify their fees.
LAMBETH PUTS MONEY INTO PROPERTY
Invesco Perpetual is to invest €90m in its pan-European property fund on behalf of the London borough of Lambeth. The fund is a specialist real estate fund managed by Invesco’s global real estate team. It currently has €410m under management within the traditional real estate sectors of office, retail and logistics. The portfolio includes properties in the UK, France, Germany and the Netherlands. Lambeth will join investors from the UK, Germany and the United States.