Henderson will re-open its suspended New Star International Property fund on 12 February.
The £290.7m fund, which has been suspended since 25 November 2008, now has the liquidity necessary to re-open after a series of recent disposals.
During December, the fund completed the disposals on an office in the Netherlands and a further building in Japan.
The FSA has approved the introduction of a restricted redemption share class for investors who have a holding worth more than £7.5m.
Should these investors, with holdings worth more than £7.5m, wish to sell shares - they will need to give one month's written notice or pay a redemption charge of 10% of the value of the redemption.
These stricter redemption procedures for large investors should allow the fund manager greater control over liquidity, Henderson says.
It adds the mid to long-term target liquidity for the fund will be in the region of 15% to 20%. However, immediately upon re-opening, the fund will hold more than this to ensure it meets existing redemption requests.
"I am pleased to announce that we will re-open the New Star International Property fund for dealing in February 2010," Henderson director of UK retail Simon Hillenbrand says.
"I am encouraged by the future prospects for the fund given early signs of recovery in some international commercial property markets and improving investor sentiment towards this asset class."
Nine sub-funds launching
Our weekly heads-up for advisers
'Nothing can prevent scammers developing workarounds'
Stalwart Scottish Mortgage takes third place
Consistency and compliance vs. slower reaction time