Laxey launches long/short property shares portfolio

Laxey Partners has launched a long/short property shares fund to take advantage of recent discounted...

Laxey Partners has launched a long/short property shares fund to take advantage of recent discounted valuations. Terra Catalyst will be headed by specialists Colin Kingsnorth, Preston Rabl, Ian Wright, Chris Agar and Rob Turner. It will use the same arbitrage strategy as the existing £49.6m closed-ended Value Catalyst fund, launched in July 2000. The portfolio will seek to close the discount between the share price at which assets trade and their intrinsic value. It is likely to retain a UK focus, and will invest in over 300 listed-property companies across Western Europe. Laxey wil...