PrivatEquityRealEstate, 27 Nov 2008, Matilda Battersby
UK firm New Star Asset Management’s £554 million (€ 703 million; $903 million) International Property Fund has been forced to suspend trading following heavy redemptions by institutional investors.
The New Star International Property Fund launched in June last year and has invested nearly 18 per cent of its capital in Japan. The second most significant country bet is Singapore, where 13 percent of investments have been made. The fund has also invested in Australia, Germany, the Czech Republic, the Netherlands, and Poland.
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