Henderson Global Investors is to launch an indirect Asian property fund. Henderson Asia Pacific Indirect Property Fund (Pagoda) will invest in listed and unlisted property vehicles in the Asia-Pacific region, covering both established economies such as Australia, Japan and South Korea and emerging markets such as Indonesia, Thailand, Vietnam and the Philippines.

But the fund will have a strong focus on India and China, said Chris Reilly, head of Henderson Property in Asia, and will be targeted mainly at European institutional investors.