ILI plans property fund

Irish Life International (ILI) is planning a euro-hedged version of its multi-manager property fund. The product would be euro- denominated and Dublin-domiciled but identical in structure to its existing sterling-denominated portfolio. 'We are looking at hedging sterling assets into euros,' said Hooman Kaveh, investment director at ILI. 'If we get a solution that is acceptable, we hope to launch the fund by the end of March.' ILI would be able to put the fund together quickly as most of the underlying relationships are already in place via the existing product. 'It would simpl...