Scottish Equitable International (SEI) is to add a commercial property fund and a global bond to its...
Scottish Equitable International (SEI) is to add a commercial property fund and a global bond to its Dublin range of offshore bond products.
Morley Fund Management property team is to manage the SEI Property fund. The fund will invest in the Norwich Property Trust, which invests in a diversified portfolio of UK commercial property assets such as office, retail and industrial property, as well as selected property company shares.
The performance objective is to achieve a return that meets or exceeds the Investment Property Databank Monthly index by 0.5% per annum over rolling three-year periods. It is classed as below average risk within the SEI fund range. This is the first property fund the company has launched and has been developed in response to demand from intermediaries with clients looking to take advantage of the potential growth of this sector.
The second new fund is the SEI Global Opportunities Bond fund. It will be invested in the Aegon Global Income Oeic Fund, managed by Aegon Asset Management UK's head of retail fixed income David Roberts.
The fund's investment objective is to maximise income and capital growth by investing in global debt instruments, primarily publicly traded bonds. At least 50% of the fund will be invested in either sterling bonds or foreign currency bonds hedged back to sterling.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till