According to a recent press release, the new fund will target institutional investors, and seek to create a well-diversified portfolio of best-in-class property funds in the region, from mature markets in Japan, Australia and Singapore, to emerging ones in China and India.
The fund, which will invest across the risk spectrum from core to opportunistic strategies, will be managed by a Singapore-based team of five professionals led by Puay Ju Kang, Head of Property – Asia Pacific. They will identify the right manager, best strategy and structure for each market depending on its property cycle. The target gearing is 50-60% and the fund aims to deliver 13-17% in returns per annum.
“Given Asia’s growth potential, it’s essential we have a presence in the region, both to meet demand for dedicated products as well as for global ones, where a regional element will greatly improve the overall risk-return profile,” said Jon Lekander, Global Head of Indirect Property, in the press release. “With this latest product, we further affirm our belief in the investment opportunities in Asia and our ability to make the best of them.”