Real Estate
UK Investment Manager Unveils Third Swedish Property Fund

Evanridge Properties, the UK-based investment manager that specialises in Swedish real estate, has launched a new fund aimed at high net worth individuals.
Evanridge Sweden 3 will invest predominately in pre-let residential properties. The two previous funds have produced returns of 19 per cent and 16 per cent to date, and all of them can be used in various pension schemes in the UK, the firm said.
The company bases its Swedish focus on population growth and demand for housing, as well as the strength of the country’s economy.
“Demand for housing in Sweden far outstrips supply, largely because building costs are so high that developers cannot get a decent return on new-builds - thus prospective tenants can wait between four and ten years,” said Nigel Evans, director at Evanridge.
The International Monetary Fund recently said that “Sweden’s exit from the global crisis has been uniquely successful compared to others in the European Union”. On the other hand, a new survey by SEB, Sweden’s biggest bank, and Deloitte found that the country has been drawn into the global economic downturn. For example, the strength of the Swedish krona is troubling some exporters.