Russell reaps rewards
Russell Investment Group’s Global Property Fund 1 (GPF1) has generated around US$180 million for its first close.
The aim of the ‘fund of funds’ — open to Australian wholesale superannuation funds — is to achieve a 13 per cent net internal rate of return over a 10-year term, from the end of the three-year investment period. The fund’s final close will be on December 17 this year.
The fund, which was tailored exclusively for compliant superannuation funds, affords investors direct access to a set of specialist global strategies for the property markets of the Americas, Europe and Asia ex Australia.
Russell managing director of institutional investor services Stephen Roberts said the fund enabled local investors to complement their traditional income-oriented property exposure with higher-return, international property investments.
“We have made sure that GPF1 will exploit opportunities in the global private equity property market. Now, with the fund’s first closing, we can begin making investments into the underlying funds. We see a number of exciting opportunities for the fund to capture value by utilising managers that have unique access to their local property markets,” he said.
Recommended for you
A strong demand for core fixed income solutions has seen the Betashares Australian Composite Bond ETF surpass $1 billion in funds under management, driven by both advisers and investors.
As the end of the year approaches, two listed advice licensees have seen significant year-on-year improvement in their share price with only one firm reporting a loss since the start of 2025.
Having departed Magellan after more than 18 years, its former head of investment Gerald Stack has been appointed as chief executive of MFF Group.
With scalability becoming increasingly important for advice firms, a specialist consultant says organisational structure and strategic planning can be the biggest hurdles for those chasing growth.
