York fund charts new territory
York Capital has succeeded in having its Wholesale Property Income Fund put on Norwich’s Navigator master fund’s recommended list.
The fund invests mainly in direct property and listed property trusts. York general manager Owen Lennie says it is the only direct property investment fund listed on Navigator.
Property investment funds have been available on Navigator for some time and the York product replaces an HSBC fund.
The York fund has also been put on Freedom of Choices master fund, recently bought by Australian Unity, and Austchoice, which is managed by SMSF.
The York wholesale fund was launched in January this year and will invest in a diversified portfolio of income-roducing property.
Lennie says the projected returns for the fund are expected to be above those of listed property trusts as the direct investment component can be up to 70 per cent of the fund.
York is looking to buy properties valued at between $5 and 50 million.
The minimum investment for the wholesale fund is $1000 with no entry and withdrawal fees. The MER is expected not to exceed 0.80 per cent.
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