Henderson eyes $1-bn Asia property fund of funds

Henderson eyes $1-bn Asia property fund of funds
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First Published: Mon, Jul 16 2007. 03 45 PM IST
Updated: Mon, Jul 16 2007. 03 45 PM IST
London: Britain’s Henderson Global Investors said on Monday it was looking to raise more than $1 billion from institutional investors for a new Asia Pacific fund of property funds.
In a statement the firm, part of the Henderson Group, said the Luxembourg-listed fund Henderson Asia Pacific Indirect Property Fund (Pagoda) will target open and closed ended funds investing directly in property in Australia, Japan, New Zealand, Singapore, Hong Kong, India, China, Vietnam, South Korea, Malaysia, Indonesia, Thailand, the Philippines and Taiwan.
Henderson, which manages around $18 billion in property assets, said it was targetting an annual total return of 12% as the region’s relatively immature real estate market is radically transformed by economic development and urbanisation over the next 5-10 years.
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First Published: Mon, Jul 16 2007. 03 45 PM IST