Orchard restructures fund
Orchard Funds Management has restructured its Composite Property Fund to include global listed and unlisted property trusts.
The management style of the fund for Australian listed property trusts (LPTs) has also been switched to active after a strategic review of the fund.
Orchard chief executive officer David Hinde said the structure for the fund had been adopted to provide investors with both liquidity and the potential of capital growth through LPTs.
“The fund offers investors diversification across regions and markets, with exposure to listed and unlisted property securities in both domestic and global listed markets,” he said.
The Composite Fund, which will now change its name to the Orchard Hybrid Property Fund, has returned 17.15 per cent during the last four years.
As part of the restructure, the fund has invested in the ING Global Wholesale Property Securities Fund and will also have exposure to Orchard’s new joint venture with Pensus in Europe.
“We believe investors will benefit from the newly-adopted structure and feel confident that we have the best team and strategy in place to take this fund successfully into the future,” Hinde said.
The Hybrid Fund is available on a number of platforms including BT and Macquarie Wraps.
Orchard now has $3.7 billion of funds under management.
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