Pacific Continental Fund Management has introduced a sterling share class for UK investors in its Skylight Capital Build-Up Fund. The fund n...

Pacific Continental Fund Management has introduced a sterling share class for UK investors in its Skylight Capital Build-Up Fund. The fund now offers sterling and US dollar share classes. Skylight invests primariy in residential property in the North of England, specialising in distressed property opportunities. From a sterling perspective it has delivered 12.99 per cent in the 12 months to 30 June 2005. The fund had been denominated in US dollars since its launch, but as its investments have all been made in the UK there has been a currency risk for sterling investors. Reporting the fund's returns in US dollars added an unnecessary layer of complication for sterling investors which will be swept away by the new sterling share class, said Pacific.