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.
Recommended for you
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
With many advisers preparing to retire or sell up, business advisory firm Business Health believes advisers need to take a proactive approach to informing their clients of succession plans.
Retirement commentators have flagged that almost a third of Australians over 50 are unprepared for the longevity of retirement and are falling behind APAC peers in their preparations and advice engagement.
As private markets continue to garner investor interest, Netwealth’s series of private market reports have revealed how much advisers and wealth managers are allocating, as well as a growing attraction to evergreen funds.
