Brandeaux has announced the re-opening of its Dublin-listed Student Accommodation Fund. The manager of specialist collective investment schemes said the fund had received subscriptions of more than £15 mln (EUR 17 mln) in the first seven weeks since the introduction of a new share class with longer redemption terms.
Brandeaux has announced the re-opening of its Dublin-listed Student Accommodation Fund. The manager of specialist collective investment schemes said the fund had received subscriptions of more than £15 mln (EUR 17 mln) in the first seven weeks since the introduction of a new share class with longer redemption terms.
Brandeaux also announced it will launch two new student accommodation funds, one denominated in euros and one in dollars, because of 'strong demand from institutions and wealth managers in the Far East, Middle East, South America and Europe'.
The company said the existing investors in the Dublin-listed fund had accepted the new terms and would convert into the new share class on 5 June.
The £698 mln Brandeaux fund was created in 2000 and owns properties with 15,000 beds in 18 major university towns and cities throughout the UK. Brandeaux said it continues to rank Number 1 in the Lipper Hindsight performance ranking of 54 UK Property Funds over the past one, three and five years. In the period to 30 April 2009 the fund returned +10.78% over the 12 months, +34.52% over three years and +58.04% over five years.
