Nuveen’s fund buys asset in South Korea
Nuveen’s Asia Pacific Cities Fund (APCF) has acquired a key logistics facility in the Greater Seoul area.
The firm said it partnered with Sang Investment to provide investment operations and capability on the ground in South Korea.
“We anticipate that the rapid expansion of e-commerce and associated third-party logistics demand in Asia Pacific, particularly South Korea, will underpin structural resilience in the sector,” Nuveen Real Estate’s managing director Asia Pacific, Louise Kavanagh, said.
“We anticipate that the rapid expansion of e-commerce and associated third-party logistics demand in Asia Pacific, and particularly south Korea, will underpin structural resilience in the sector.
“Seoul is one of the principal cities for investment for the APCF, offering a core, liquid, transparent, highly institutional and investable market.”
APCF was originally launched in November 2018 and aimed to focus on selected ‘future-proof’ cities across the Asia Pacific region.
AUTHOR
Oksana Patron
Recommended for you
Natixis Investment Managers has hired a distribution director to specifically focus on the firm’s work with research firms and consultants.
The use of total portfolio approaches by asset allocators is putting pressure on fund managers with outperformance being “no longer sufficient” when it comes to fund development.
With evergreen funds being used by financial advisers for their liquidity benefits, Harbourvest is forecasting they are set to grow by around 20 per cent a year to surpass US$1 trillion by 2029.
Total monthly ETF inflows declined by 28 per cent from highs in November with Vanguard’s $21bn Australian Shares ETF faring worst in outflows.
