Sterling share class added to Skylight Capital Build Up fund

Pacific Continental has added a sterling share class to its Skylight Capital Build Up fund. The $3...

Pacific Continental has added a sterling share class to its Skylight Capital Build Up fund. The $37m Skylight fund targets absolute returns by investing in distressed residential property in the UK, primarily in north England. Launched in February 2004, in sterling terms the fund has seen returns of 52.66% since launch, according to the firm. According to the firm's head of fund management, Peter Phelan, the new share class has been added because reporting its returns in US dollars added an unnecessary layer of complication for sterling investors.