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Morgan Stanley launches global real estate UCITS

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Morgan Stanley this week announced the latest addition to FundLogic Alternatives Plc – the US bank’s Dublin-based UCITS umbrella structure.

Morgan Stanley this week announced the latest addition to FundLogic Alternatives Plc – the US bank’s Dublin-based UCITS umbrella structure. Entitled the MS Cohen & Steers Global Real Estate L/S Fund, it will employ a global l/s strategy to investing in listed real estate. New York-based asset manager, Cohen & Steers Capital Management Inc, who run approximately USD40billion and specialize in real estate securities, are managers to the fund, with Morgan Stanley acting as promoter. The fund will seek to capture alpha with modest volatility and protect capital during difficult times. Morgan Stanley Managing Director and Global Head of Fund-Linked business, David Armstrong, said that they were proud to partner with Cohen & Steers to offer exposure to the real estate sector, adding: “With this latest addition we are further diversifying our range of available strategies covering all the major sub-segments of the hedge fund space.” Fund portfolio manager, Todd Voigt said that 95 per cent of the UCITS would run pari passu with the offshore program with only “minor adjustments to comply with the UCITS regulation”. Co-Chairman and Co-CEO of Cohen & Steers, Martin Cohen (pictured), was also quoted as saying: “We see this new fund as an additional way for offshore investors to benefit from our ability to identify sector inefficiencies which we believe will generate attractive returns.”  

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