AIB to offer Asian product

AIB Private Banking has launched a pan-Asian investment product offering an individual pension fund and corporate investors an opportunity to get a leg up on the Far East property ladder.

One of the key features of the bank’s AIB MT Fund Asia Private Ltd is that it affords individuals — with a minimum of $200,000 or €131,600 in spare cash — the opportunity to participate in an institutional-scale investment property opportunity around the $2.5bn (€1.6bn) mark.

AIB MT Fund Asia Pte Ltd will invest in Alpha Asia Macro Trends Fund Pte Ltd, the Macro Trends Fund.

The Asian fund is targeting an internal rate of return in excess of 12% per annum over an expected eight years. It will offer investors access to a diverse range of properties from commercial to residential across a growing economic region in developed Asian economies such as Hong Kong, Taiwan, Singapore, Japan and South Korea, together with emerging Asian economies such as China, India and Vietnam.

Alpha is a subsidiary of Keppel Corporation Ltd, one of Singapore’s largest international groups, and is a highly regarded real estate fund management company with an impressive performance record to date. Most of its funds have surpassed target returns and produced impressive internal rates of return to December 31, 2007.

The closing date for applications to AIB MT Fund Asia Pte Ltd is April 18, 2008, and the minimum investment is $200,000 (€130,273) per investor.

John Rockett, head of AIB Private Banking, said: “We are delighted to launch our second Asian investment opportunity, allowing our investors to benefit from the significant economic growth in Asia.”

Article courtesy of The Evening Echo newspaper