Aberdeen Asset Management is planning to launch a new Asian property fund of funds, following the closure of its third Asia-Pacific property fund (Asia III) at $512 million.
The new Aberdeen Asia Enhanced Core Property fund, which is scheduled to launch this quarter, will focus on developed markets and lower risk strategies.
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The new launch comes as the continued and well documented growth in Asian investment flows into real estate, particularly in global financial markets including London and New York.
The new fund is expected to target annual returns of 8%-10% and will be run by a team comprised of seven people based in Singapore and led up by manager Puay Ju Kang. It will invest in the office retail, industrial, logistics and residential markets as well as well as healthcare and senior housing.
However, the Asia III will invest across the risk spectrum, from core to opportunistic strategies targeting returns of at least 13% per annum.
Joe Lekander, global head of property multi-manager, said: "The current market environment provides opportunities to capitalise on investments in both developed and emerging markets in Asia Pacific."
