Kinloch Funds Management picks MacarthurCook to run its upcoming emerging markets property securities fund.
New Zealand investment boutique Kinloch Funds Management has hired MacarthurCook to manage its upcoming emerging markets property securities fund (EMPSF).
The unlisted fund is set to be launched in New Zealand this week.
The fund will invest in listed property securities and property companies in emerging markets, a MacarthurCook statement to the Australian Securities Exchange (ASX) said.
MacarthurCook's managing director Craig Dunstan said the fund would be ideal for investors seeking growth and diversification in their portfolios.
Brazil, China and India's economies are forecast to grow by 6.5 per cent, according to the International Monetary Fund.
This compared to the 1.3 per cent forecast for developed countries, where property values have softened from an economic slowdown.
MacarthurCook holds a 33 per cent interest in Kinloch, based in Wellington.
The deal came days after MacarthurCook hired Warren Boothman as head of institutional business to boost distribution.
At APN Property Group last year, Boothman helped successfully raise $25 million from wholesale investors for the APN Development Fund.
The APN fund raised a total of $105 million.
MacarthurCook's shares remained unchanged at 90 cents in trading yesterday.
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