Herald Sun
01/01/2008 Page: 24
ALLCO Finance Group says its new transport and infrastructure fund has proved popular with wholesale investors, attracting $200 million ahead of schedule. Allco General Transport and Infrastructure Fund got a $200 million commitment from a large, unnamed institutional investor, its parent company said. That meant the fund would launch in January - about three months earlier than expected.
Allco is targeting total contributions of up to $450 million for a fund that will invest in ships, aeroplanes, wind farms and other stable assets with reliable cash flow. "This is a fund investing in Allco's core asset classes," Allco said. Allco Finance Group shares were up 44c or 7.64 per cent to $6.20.
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