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Legal & General announce £67m investment into Leisure Fund
The property arm of British multinational financial services company, Legal & General, has announced that it has raised an addition £67m of capital for its Leisure Fund - which is designed to support its investment strategy.
Formed in 2002, the Leisure Fund Limited Partnership has over £260m in assets, comprising of eight leisure assets across the UK.
Already one of the highest yielding unlisted funds in the UK, the Leisure Fund benefits from a low cost of debt, which at 5.3 per cent enables it to deliver an annual distribution in excess of six per cent.
From March 2013, over the course of 12 months, the fund delivered a strong performance of 9.8 per cent to its institutional investors, which compares favourably to the IPD Specialist Funds index, which by comparison generated 1.1 per cent.
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