Equiti to launch first of new property funds
Equiti Funds Management (Equiti) has announced the launch of a new direct property fund, the first of a number of property funds it plans to roll out in the coming years.
According to Equiti executive director Darren Wise, direct property funds will provide a good opportunity for investors if the structure is right and the assets can be bought at the right time.
“Direct property’s still a very good asset, particularly some of the office properties,” Wise said.
With a “back-to-basics approach”, Wise also said the fixed-term fund will have a load ratio of around 50 per cent and will focus on good quality property with long leases and strong tenants.
Wise said although specific features of the diversified property fund cannot yet be revealed, “there’s been a lot of emphasis on features in this product that are actually going to be there to protect investors and financial planners against unforeseen things”.
“There will be some specific features that will surprise the market a little bit.”
Equiti is currently looking at target properties for the fund.
“We’re doing due diligence on some very, very good blue chip assets,” Wise said.
The fund will be launched in three to four weeks’ time, according to Equiti.
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