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New RE oversaes fund...
Old 11-04-2006, 12:13 PM   #1
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New RE oversaes fund...

This article does not say that it is a REIT fund, so I guess that it is not. Maybe a REIT is an American idea. If it's promoting 20% returns, I'm guessing that there is a fair amount of risk involved. Wonder what the ER is/will be?

Morgan Stanley is raising an unprecedented $8 billion for a new high-yield real-estate fund that will invest in overseas markets, according to published reports.

The new fund, Morgan Stanley Real Estate Fund VI International, will pursue annual returns of at least 20%, reports said.


http://www.investmentnews.com/news.cms?newsId=2752
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Re: New RE oversaes fund...
Old 11-04-2006, 02:28 PM   #2
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Re: New RE oversaes fund...

Cohen & Steers has a couple intl REITs, all loaded unless you have a spare $100,000. Fidelity has one with similar holdings as well, no load, lower minimum, you get a hair cut if you leave before 90 days have passed.

Both are capital appreciation oriented, not much in the way of dividends. Not a smooth ride, but a nice one.
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Re: New RE oversaes fund...
Old 11-04-2006, 03:42 PM   #3
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Re: New RE oversaes fund...

Here's a more informative link about the Morgan Stanley fund:

http://www.bloomberg.com/apps/news?p...9.Y&refer=home

The fund had significant fees in the form of aquisition fees, management fees & profit share - but they expect to produce 20% for the investor. I suspect that there is a substantial minimum investment and the investor must be "accredited" or "super accreditied" as defined by the SEC.
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Re: New RE oversaes fund...
Old 11-04-2006, 04:29 PM   #4
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Re: New RE oversaes fund...

From that Bloomberg article:

Quote:
Based on a standard management fee of 1.5 percent of capital committed, the new Morgan Stanley fund would generate $120 million annually in management fees alone. The actual fee on the fund wasn't disclosed
.

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Re: New RE oversaes fund...
Old 11-04-2006, 05:06 PM   #5
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Re: New RE oversaes fund...

20%? So??

http://finance.google.com/finance?q=FIREX

http://finance.google.com/finance?q=IRFIX
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Re: New RE oversaes fund...
Old 11-04-2006, 05:51 PM   #6
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Re: New RE oversaes fund...

Quote:
Originally Posted by Brat
Nice. But you know what Bernstein always says -- it ain't the stocks they pick, it's the asset class.

That fund is mostly large cap Chinese stocks. So far, I love my large cap Chinese index ETF, FXI.

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Re: New RE oversaes fund...
Old 11-04-2006, 06:32 PM   #7
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Re: New RE oversaes fund...

IRFIX is a too rich for my budget as I would need to part with $100T (paying loads in or out is against my religion).

I opted for FIREX. It doesn't seem to have as much a China concentration.

The class I was seeking is overseas commercial realestate with no concentration of hotel holdings. Office buildings, manufacturing facilities.
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Re: New RE oversaes fund...
Old 11-04-2006, 07:32 PM   #8
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Re: New RE oversaes fund...

Quote:
Originally Posted by Brat
I opted for FIREX. It doesn't seem to have as much a China concentration.
I have some FIREX too. Anybody have a feel how much these international real estate asset classes correlate against US REITS and/or US equities ?
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Re: New RE oversaes fund...
Old 11-04-2006, 11:15 PM   #9
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Re: New RE oversaes fund...

Quote:
Originally Posted by mickeyd
The new fund, Morgan Stanley Real Estate Fund VI International, will pursue annual returns of at least 20%, reports said.
Those slackers-- they couldn't set the bar at 50%?
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