Norwich Union launches Asia Pacific Property fund

Norwich Union has launched its long-awaited Asian bricks and mortar property fund. It is managed b...

Norwich Union has launched its long-awaited Asian bricks and mortar property fund. It is managed by Gillian Chee who will be assisted by head of Asia real estate Nick Ridgewell. Both are based in Singapore. The managers will purchase assets across the region and also hold around 10% cash and invest 20% in Reits for liquidity purposes. Norwich Union seeded the Asia Pacific property fund in July with around £70m which was used to purchase an office building in the centre of Singapore’s business district. Further assets in Hong Kong and Tokyo are currently being considered but the fund ...