Property group launches fund

The Australian office of the $700 million Wellington-based specialist property financier St Laurence has launched a new fund with Lloyd's insurance cover.

St Laurence managing director Kevin Podmore said the capital assured fund was the first of new products being issued.

St Laurence Mortgages plans to release a dual-currency debenture and a subordinated note issue next month. St Laurence's funds management division expects to launch a new proportionate ownership real estate scheme next month.