Students set to provide an 8-10% return
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Coral Portfolio and Strutt & Parker Real Estate Financial Services (SPREFS) are launching a fund which targets yearly returns of 8-10%.
The Coral Student Portfolio, structured as a Luxembourg Sicav, invests in the student accommodation sector, with holdings in 20 providers.
These are structured as UK schemes, so the portfolio will in effect be an actively managed fund of funds. It will not invest in bricks and mortar.
The fund, to be launched on March 1, will be managed by John Kennedy, Robert MacDonnell and Lawrence Frampton, all of whom work at Coral Portfolio. SPREFS will act as the fund’s investment adviser, providing the strategy for the allocation and selection of the student accommodation funds.
The open-ended fund has UK distributor status and will be marketed via financial advisers and through life platforms.
There is no minimum investment, and Coral Portfolio says it expects to raise “in the vicinity of £100m during the first year”.
