|
|
Article: Axa targets real estate returns.
- Article from:
- Investment Adviser
- Article date:
- May 23, 2005
|
Copyright informationCOPYRIGHT 2005 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
In order to take advantage of unsynchronised real-estate markets in Europe and the subsequent potential for higher returns and greater diversification, Axa Investment Managers have launched a UK-listed European and UK real estate fund.
The Axa Property Trust launched on 18 April and aims to raise up to AGBP150m, which will be initially invested in fixed income securities then converted into property within 12 months following admission, subject to prevailing market conditions.
Axa Investment Management has forecast the trust's yield will be 5 per cent (after costs) in the first year.
The closed-ended, Guernsey-registered fund will target commercial investment ...