Property fund manager Horizon Asset Management has launched a new company to promote its British Property Opportunities Fund in the UK to IFAs and institutional investors.
Horizon Properties Capital is now authorised by the Financial Services Authority as an appointed representative of Sturgeon Ventures, the City-based regulatory incubator, and has set up operations at its new headquarters in Drayton House, Chichester.
The British Property Opportunities Fund is an open-ended investment fund domiciled in the Cayman Islands and invests in both residential and commercial property, including distressed portfolios, high yield rental units, development opportunities, leasebacks and reversionary gains schemes. It was launched on 1 February 2008 and has returned 17.75 per cent net of all charges since launch to 1 September 2010.
Bill McClintock, chairman of HPC, says: “The launch of HPC is a real boost for the British Property Opportunities Fund. The regulatory overview and the rigour which that brings to the quality of our marketing material will be a real comfort for investors and especially IFAs. The fund has a singular approach in that it has the flexibility to pinpoint outstanding opportunities, giving it an advantage over more traditional property funds. Furthermore, because of the timing of its launch, the fund is not hampered by the legacy issues foisted on many funds by the credit crunch and is very well placed to exploit the many opportunities we expect to see over the next few years.”
The minimum investment in the fund is GBP50,000 or currency equivalent (EUR56,925). It is available to institutional investors and retail investors via a number of wraps and insurance products including Quantum Leben.