Cardales adds commercial property fund to portfolio

Cardales has launched a commercial property fund to complement its existing Glanmore Property and British Real Estate funds. Primarily targeting British expatriates, the Dublin-domiciled GlanEuro UK Property fund, will purchase property in the UK in sterling and hedge the euro-sterling risk. It is an accumulation fund so it will not pay dividends, but for regulatory reasons it will have a minimum investment threshold of e125,000 (£87,250). It has been funded with e50m from Spanish Banif Bank and has a gearing of 1:1, meaning it already has e100m to invest. Robert Court, chief execut...