Brooks Macdonald is launching a new UCITs core property fund in a new joint venture called North Row Capital.

London-listed Brooks Macdonald is launching a new UCITs core property fund in a new joint venture called North Row Capital.

The IFSL North Row Liquid Property fund will invest mainly in property derivatives, as well as property equity and debt, targeting a high income yield of 4.5-5.5 per cent with low volatility.

The fund will be managed by Steven Grahame, who is supported by deputy fund manager Dr Niall O’Connor, and is expected to launch in February, subject to FCA approval.

The open-ended fund will be actively managed using a fundamental and quantitative research process to identify mis-valued markets, mis-valuations between property debt, equity and direct markets, as well as measuring and controlling risk via BMF’s own risk management process.

The fund has daily dealing, no performance fee, no entry/exit fee and the minimum initial investment will be £10,000 ($16,000).

In other news, in December Brooks Macdonald Group signed an option agreement to acquire Levitas Investment Management Services for up to £24 million (£39.2 million).