Fiducia Wealth Management
Posted in Investing on 01.08.09

The New Star International Property fund remains suspended from trading, with no date for re-opening although we believe it is likely to re-open in the next 6 months.

The fund was suspended due to lack of liquid assets to cover redemptions but has now begun creating a flow of liquidity after exchanging contracts on one of its properties in Singapore, with other transactions expected to follow to follow. The fund expects to exchange on another property in Melbourne this month and has received considerable interest in its properties for sale in Paris, Amsterdam and Munich.

The potential asset disposals present a broad geographical spread and will therefore leave the diversification dynamics of the fund unchanged.

The Henderson New Star team are taking a controlled and balanced view of bringing properties to the market in order to maximise value for existing investors.

We will continue to provide updates on progress to normal trading in the fund.

 

If you would like to know more about how we as Financial Advisers can help you  with your Investments then visit the Investment Management section of  our website: Investment Management or send us email at: email@fiduciawealth.co.uk

The information contained in website is for guidance only and does not constitute advice which should be sought before taking any action or inaction. The information is based on our understanding of legislation, whether proposed or in force, and market practice at the time of writing. Levels, bases and reliefs from taxation may be subject to change. Accordingly no responsibility can be assumed by Fiducia Wealth Management Limited, or any associated companies or persons, its officers or its employees, for any loss occasioned in connection with the content hereof and any such action or inaction. Professional financial advice is necessary for every case.

Fiducia are an award winning firm of Financial Advisers based in Dedham near Colchester situated in the heart of Constable Country on the Essex Suffolk border. www.fiduciawealth.co.uk

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Fiducia Wealth Management
Posted in Investing on 01.08.09