UK-based F&C Investments is rolling out the F&C Real Estate Equity Long Short fund - a UCITS version of the Cayman Islands-domiciled Thames River Longstone fund - in the final quarter of the year, the firm has confirmed to WealthBriefing.

Managed on an absolute return basis, the fund will be co-managed by Marcus Phayre-Mudge and Raymond Lahaut. Phayre-Mudge heads up the Thames River Property team, while Lahaut is lead manager of the Longstone fund.

Specifically, the fund will invest in listed real estate securities, with the aim of generating an annual return of between 8 and 10 per cent, net of fees.

In July, the firm shelved plans to launch a US investment trust due to sluggish demand causing it to fall short of its £100 million ($156 million) fundraising target. Earlier, in May it decided to drop the Thames River brand in an attempt to streamline the business. Thames River was formed nearly two decades ago and was bought by F&C in 2010.