Henderson Indirect Property Fund Europe (HIP), Henderson Global Investors’ European property fund-of-funds, has reopened the calculation of its NAV pricing and is open for investment now.
HIP claimed that it has over EUR50m to invest in new opportunities and has benefited from the revocation of over 70% of the redemption requests on the fund.
The suspension was put in place at the beginning of 2009 after regulatory approval by the Luxembourg financial authorities and in accordance with the fund’s prospectus.
Nick Evans, fund manager of HIP said: “Given the stabilization and improvement in the European real estate market over the past few months, we now feel it is the right time to reopen HIP. We are particularly encouraged by the withdrawal of over 70% of redemption requests from our investors, a figure which may increase further.
We see now as an optimum time to be investing again, as we can access what we believe to be high quality funds supported by prime real estate assets at significant discounts to NAV. We therefore expect to deploy the outstanding investor capital we have available of over EUR50m in the next couple of months in order to take advantage of this and ahead of expected valuation uplifts.”