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Stellar Asset Management goes back on the road with Baltic States Fund


Specialist asset manager Stellar Asset Management is extending the offer period on its first fund, the Stellar Baltic States Fund, to July 31 following what the firm says is greater than a

Specialist asset manager Stellar Asset Management is extending the offer period on its first fund, the Stellar Baltic States Fund, to July 31 following what the firm says is greater than anticipated demand, reflecting its expectation that the Baltic real estate market will outperform the UK market by 15 per cent over the next two years.

The fund aims to capitalise on the uplift in commercial and residential property values in Lithuania, Latvia and Estonia as their economies catch up with the more mature EU economies.

Stellar is working in partnership with Baltic property specialist Bristol & Stone and Capital City Developments to assemble a diversified portfolio aimed at providing asset growth over the short to medium term.

The fund will explore planning plays, development and land trading opportunities as well as more conventional property investments, and seek to deliver annual total returns to investors of 15 per cent. The minimum investment is GBP25,000. Initial commission of 4 per cent and 0.5 per cent trail commission are available for financial advisers.

‘We are delighted with the response to the fund and there is simply not enough time to see everyone in the original timetable,’ says Stellar Asset Management chief executive Jonathan Gain.

‘There is a healthy appetite for non-UK property investments. We have been able to demonstrate that there is value to be found in specialist property markets that we believe will considerably out perform the UK in the short to medium term.’

The Stellar directors all previously worked for Close Brothers Investment and have experience in developing and launching products investing in both the commercial and residential property sectors.

This approach has now been adopted by Stellar, which says it provides the rationale behind the Stellar Baltic States Fund – enabling private investors to diversify their property portfolios into a region where exceptional gains are still capable of being generated.
The fund will invest in the Baltic States property markets in parallel with CCFM Bristol & Stone, an Isle of Man company established as a joint venture between property developer and real estate fund manager Capital City Developments and Bristol & Stone, a British team based in Estonia.

The fund will invest in a portfolio comprising six properties currently owned by CCFM Bristol & Stone, financed using funds provided by a cornerstone investor. CCFM Bristol & Stone now seeks further funding to take advantage of Bristol & Stone’s pipeline of further potential property acquisitions.

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