Equitable forms value enhancement fund.
Equitable forms value enhancement fund
Equitable Real Estate Investment Management, Inc. has announced the formation of Value Enhancement Fund, another in the companys series of closed-end investment Closed-End Investment When an investment company issues a fixed number of shares in an actively managed portfolio of securities. The shares are traded in the market just like common stock.
Notes: Most mutual funds are open-end funds, not closed-end. The main difference with closed-end funds is that market price of the shares is determined by supply and demand and not by net-asset value (NAV). accounts for pension funds.
The Fund, which has already raised approximately $25 million from three pension funds, will acquire between five and eight high-quality properties selling at depressed investment values.
COPYRIGHT 1991 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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