NORWAY - Aberdeen Property Investors has launched its second property fund in Norway consisting of an actively managed portfolio diversified across property, regions and tenant categories.
The launch of AP1 Eindomsfond Norge II ASA follows the first fund launch in 2004.
“There has been so much demand for our first property fund, with more than e600m raised, that we have decided to launch a new fund,” said Espen Klevmark, managing director, Aberdeen Property Investors Norway.
The new fund will be managed as a discretionary fund and will be built up using Aberdeen’s local expertise in the Norwegian property market. The target return for the fund is above 12 % per year after taxes and charges.
The fund, which will have its first closing 11 November, will provide an expected annual payout of 5-9 %.
“Property in Norway is expected to show a continuously high total return, in comparison with Europe,” said Ubbe Strihagen, director Aberdeen Property Investors. “A well diversified property fund could therefore be an attractive alternative to investors in the future, along with stocks and bonds.”
In addition to the Norwegian funds, Aberdeen manages several other property funds in Finland, Denmark, Sweden and Europe.
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