UBS Global Asset Management has launched a Jersey- domiciled unit trust that invests directly into the UBS Triton Property Fund.
The portfolio is quite liquid for a property fund, offering twice-monthly entry and exit facilities. Triton is invested in 78 properties, with more than 800 tenancies. Further diversification is gained from the spread across a range of commercial sectors that have included industrial warehouse, office and retail. The portfolio also offers a secondary market service bringing buyers and sellers together.
There are six managers of the fund all of which are chartered surveyors. Cliff Hawkins is lead manager of the team. Each takes a hands on approach in choosing properties. They look at identifying long term economic and real estate trends and the portfolio hopes to capitalise on pricing opportunities.
Richard Tanner, head of research for Triton, said: 'We are offering this product to new markets. We had a clear strategy to widen Triton's distribution net and we have been able to achieve this with the support of UBS Private Banking who will be making this product available to their high net worth clients.'
The new feeder fund will be open to investment professionals, high net worth individuals, sophisticated investors, companies, pension schemes and other institutional investors such as charities in the UK and elsewhere.
Units will initially be offered at a price of £1 per unit and the minimum initial investment will be £50,000.
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