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Low-Carbon Property
Key facts*
| Investment objective | The fund aims to generate premium rental income and capital performance over the longer-term by investing in low-carbon compliant real estate, primarily within the UK office sector |
| Launch date | March 2010 |
| Lead portfolio manager | Don Jordison |
| Key advisers | Threadneedle Asset Management Limited, the Carbon Trust and Stanhope plc |
| Benchmark | IPD Quarterly Index Total Return for the Office Sector |
| Outperformance target | At least 1% over benchmark per annum (relates to Investment portfolio only) |
| Leverage | Up to a maximum of 25% of the fund's gross asset value |
| Holding period | 5 years from the launch date |
| Redemptions | Not permitted within the initial 5-year period** |
Philosophy
We believe that the fund, through its three advisers, can create a portfolio of uniquely competitive buildings sourced from an existing stock of non-compliant offices. The alignment of the respective advisers with investors and occupiers is expected to deliver significant outperformance from these underlying assets.
Process
We use a two-stage approach to managing the fund, comprising a development portfolio and an investment portfolio, as shown below:
* All data as at 31 December 2011. Where references are made to portfolio guidelines or features, these may be subject to change over time and prevailing market conditions. Actual investment parameters will be agreed and set out in the prospectus or formal investment management agreement. Please note that the performance target may not be attained. ** Within such period, investors may transfer or dispose of units in the Fund to qualifying investors, subject to the Manager's approval. Thereafter, investors may redeem up to 25% of their holding per calendar quarter, subject to a maximum redemption threshold of 10% of the net asset value of the Fund each calendar quarter.