US real estate giant Cohen & Steers has launched a diversified, real asset portfolio into the UK for its $1.2 billion (£903 million) sector star Vince Childers and his team.
The Cohen & Steers SICAV Diversified Real Assets fund will initially be available at an early-bird annual management charge of 45 basis points with overall charges capped at 55bps. Further share classes will follow after launch.
The strategy will invest in a portfolio of property, infrastructure, gold, and commodity equities, and fixed income for portfolio diversification and to manage risk.
Head of EMEA sales at Cohen & Steers UK Mark Haynes said: 'By combining multiple real asset classes together into a single strategy, we can help smooth the risks of standalone categories.
‘Then, by applying top-down dynamic asset allocation and bottom-up security selection, we have created a turnkey solution for accessing this core asset class.
‘We believe the fund is particularly suitable as a performance driver and diversifier and that for many investors it will offer a compelling alternative – or complement – to diversified growth funds, many of which exhibit similar risk exposures to traditional stock/bond portfolios.’
Childers (pictured) is a senior vice president and head of real asset strategy at Cohen & Steers, where he has worked for the last five years. He previously worked at AllianceBernstein and has 18 years of investment experience.
The launch is the latest of a series of products the house has recently launched into the UK, following May’s unveiling of a UK version of its $6.5 billion-plus global preferred securities fund.