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31 January 2001
Lend Lease Real Estate Investments Introduces Mutual Fund to Invest in European Real Estate Securities
NEW YORK, NY, (January 31, 2001) – Lend Lease Real Estate Investments, Inc. (“Lend Lease”) announced today it is launching its second mutual fund Lend Lease European Real Estate Securities Fund (the “Fund”). The Fund will invest primarily in publicly-held real estate companies in the current European Union nations while also seeking opportunities in Europe’s emerging markets.
The European real estate securities market is similar to the U.S. market. The number of publicly traded European real estate securities exceeds 100 with a total market capitalization approaching US$100 billion. The development of a common currency combined with solid market fundamentals creates what we consider a positive outlook heading into 2001. Keep in mind however that there are risks inherent in foreign securities that are very different from U.S. securities.
The Fund is managed by W. Joseph Houlihan and Gerios Rovers of Lend Lease Houlihan Rovers S.A. (the “Sub-Advisor”), Lend Lease’s Brussels-based European real estate securities arm. It is available to U.S. retail investors directly, through financial professionals and various mutual fund supermarket platforms.
The Fund is the second launched in the past year by Lend Lease, one of the world’s largest managers of real estate holdings with US$48 billion in equity real estate and commercial mortgage investments on behalf of institutional clients globally. The firm introduced Lend Lease U.S. Real Estate Securities Fund in early 2000. That Fund is managed by Lend Lease Rosen Real Estate Securities LLC, Lend Lease’s REIT management arm.
“Lend Lease has a long history of serving the real estate investment needs of the world’s great institutions,” said Matthew Banks, CEO of Lend Lease Real Estate Investments - International. “Now with the introduction of our European Real Estate Securities Fund to go along with the U.S. Real Estate Securities Fund, we are bringing our considerable experience and expertise in the real estate industry to the mutual fund investor.”
He continued, “We believe the timing couldn’t be better. Real estate stocks have performed well over the long term, and are considered less volatile than most other sectors. Although past performance is no guarantee of future results, during periods of turbulence, real estate investments may act as an effective diversification tool within a portfolio. Overall, we believe the outlook for European real estate stocks is solid.”
Lend Lease will be developing additional real estate mutual fund products to be introduced in the future.
Lend Lease European Real Estate Securities Fund takes a bottom-up approach to selecting securities for the Fund’s portfolio, measuring each security under consideration according to various quantitative parameters such as cash flow, market value, book value and earnings -- relying primarily on proprietary quantitative models and estimates of the value of company assets in the private real estate market (and public equity market). The Sub-Advisor will evaluate other factors such as a company’s strategic objectives, strength of management and risk profile before ranking against other investment opportunities and executing those that prove the most attractive.
Lend Lease Real Estate Investments is one of the largest real estate investment managers in the world and a leading U.S. real estate advisor to pension funds. The company has US$41 billion in real estate and commercial mortgages under management for institutional and private clients in the U.S.
On a worldwide basis, the Lend Lease Group is an integrated real estate funds management and services business comprising funds management, project management and construction and property development. In real estate funds management, Lend Lease provides equity and debt origination and management, in public and private markets, and manages US$48 billion on behalf of clients globally. Lend Lease provides project management and construction services in almost 40 countries, usually on a fee for service basis, for a blue chip client base with a high level of repeat business. In property development, Lend Lease has expertise in commercial, retail, multifamily and complex urban mixed use developments, with a strong retail focus, in Europe, Asia, Australia and the U.S., utilizing primarily third party capital.
The integrated and global nature of Lend Lease's real estate businesses places the Group in a unique position to provide product and service offerings to clients across the full range of funds management and other real estate services, and across borders.
For more complete information, including fees and expenses, call 1-877-LND-LEAS (563-5327) for a free prospectus. Please read it carefully before investing.media
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