Skandia Investment Management launches global property fund (UK)

Skandia Investment Management Limited (SIML) has appointed one of the world's leading property specialists, LaSalle Investment Management (Securities), in an exclusive partnership to run a global property securities fund to be launched on 3 October 2005. The fund will be called Skandia Global Property Securities (LaSalle) Fund.

This unique partnership brings a world-class global property manager to the UK retail market and provides an exciting investment solution in response to the increasing popularity of property as an asset class, and the recent accessibility of the global property market through global property securities.

LaSalle Investment Management (Securities) is one of the world's leading property securities managers with more than 20 years of investment experience, and $5.2bn of assets under management.

The fund will be available to advisers direct from SIML or combined with the recently launched Asset Allocator Fund range, the new fund will aim to achieve long term capital growth and income through investment in a globally diversified portfolio of property-related securities, such as real estate investment trusts. The global property shares market is currently valued at over $550 billion and growing quickly.

The fund will also be available through Skandia's fund supermarket, onshore and offshore bonds and pension fund ranges.

Commenting on the appointment, SIML Chief Executive Jamie MacLeod said:

"This partnership continues to demonstrate our ability to attract superior global partners. LaSalle Investment Management (Securities) is acknowledged as a truly world class manager of real estate securities, and is renowned for its experience, research capabilities and track record.

This exclusive partnership we have put together moves the property investment market in the UK onto another level. Through the new fund investors can not only gain access to an exciting new investment opportunity that has a track record of delivering strong performance, but also offers attractive diversification opportunities against equities, bonds and the UK property market.

Todd Canter, Managing Director and Global Product Manager at LaSalle Investment Management (Securities), said:

"Skandia Investment Management is a genuine leader in its field. The company's innovative approach coupled with the quality of both its research and the distribution partnerships it has in place has enabled it to become a leading name in multi-manager solutions and one we are delighted to be able to do business with.

"The Skandia Global Property Securities (LaSalle) Fund not only gives UK investors access to a market that has demonstrated strong returns over the past 20 years but importantly also offers them the potential for further portfolio diversification."

Source: LaSalle Investment Management

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