Henderson Global Investors' Indirect Property Fund Europe (HIP) has reopened for investment by institutional investors after closing in early 2009 and now has over EUR 50 mln to invest in new opportunities. The fund of funds has benefitted from the revocation of over 70% of the redemption requests on the fund, Henderson said on Monday.

Henderson Global Investors' Indirect Property Fund Europe (HIP) has reopened for investment by institutional investors after closing in early 2009 and now has over EUR 50 mln to invest in new opportunities. The fund of funds has benefitted from the revocation of over 70% of the redemption requests on the fund, Henderson said on Monday.

The fund is currently valued at EUR 405 mln of equity and holds investments in 18 private institutional investment funds and one quoted business across Europe. It has identified a strong pipeline of potential investment opportunities with a preference for the German retail, French office and UK markets, which Henderson believes offer good income returns, liquidity and transparency as well as the potential for capital appreciation, given their current pricing levels.

Withdrawals from the fund were put in place at the beginning of 2009 in a move designed to protect its investors and provide future investors with a more equitable pricing structure. The closure was a response to the market's uncertainty at that time to value the fund’s units and the underlying real estate assets fairly and accurately as a result of the prevailing global economic crisis.

Fund manager Nick Evans said: 'Given the stabilisation and improvement in the European real estate market over the past few months, we now feel it is the right time to reopen HIP. We are particularly encouraged by the withdrawal of over 70% of redemption requests from our investors, a figure which may increase further.'