Henderson Global Investors’ Italian fund management arm said it is launching its first fund following authorisation from the Bank of Italy. The closed-end fund for institutional investors, Fondo Azzurro, will target retail property investments and will invest in both existing properties and development schemes. Henderson Global Investors SGR said it is targeting equity of EUR 250 mln over the 10-year life of the fund.

Henderson Global Investors’ Italian fund management arm said it is launching its first fund following authorisation from the Bank of Italy. The closed-end fund for institutional investors, Fondo Azzurro, will target retail property investments and will invest in both existing properties and development schemes. Henderson Global Investors SGR said it is targeting equity of EUR 250 mln over the 10-year life of the fund.

‘The Italian retail sector will continue to grow over the next few years, with rental growth and yield trends remaining strong in comparison to other European markets,’ said Gaetano Lepore, the manager of Fondo Azzurro. Despite its increasing maturity, the Italian retail market still offers good value for investors, Lepore said.

London-based Henderson Global manages over EUR 11.9 bn of property funds throughout Europe. Although the Italian fund management company was established only in 2006, Henderson Global said it has gained extensive experience in the Italian retail market through the activity of its European Outlet Mall Fund, which develops designer outlet malls across Europe, with a strong focus on Italy.