AMP launches new property fund
Thursday, July 10th 2003, 9:35PM
AMP Henderson has launched a new investment fund that will target property projects with a return on equity of more than 20%.AMP Henderson property ventures unit boss Peter Alexander said the property opportunity fund would invest in high-margin property investment and development opportunities.
It would add value through the development and restructuring of assets, he said.
The fund differs from most conventional property investments in that it targets capital returns rather than a yield-based return, Alexander said.
AMP Henderson is seeking to raise between $10-45 million dollars capital for the fund, which would open to registered superannuation funds, wholesale clients and retail investors, by the July 25 cut-off.
The fund has a fixed life of five years, with management fees structured on a profit-share basis
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