Singapore’s Mapletree Investments Ptewill liquidate a property fund that once had assets above $1.4 billion, after its bets on college accommodation in the UK and US suffered years of underperformance.
The Mapletree Global Student Accommodation Private Trust, almost three years after halting regular payments to investors, finally came to an end on March 16, according to documents seen by Bloomberg News. Its net internal rate of return by the end of last year was just 1.1%, well short of its initial target of 12%, the documents show.
The fund — which now has assets of around $700 million ...
