New Luxury Property Fund Aiming At Residential Market

We've picked up a story about the Allure Properties Diamond Fund which is an alternative lifestyle fund aimed at luxury residences.
Reading through the collateral the fund is looking to acquire a minimum of six properties in locations ranging from Phuket, London, Queenstown, Fiji, the South of France and Colorado.
Looking at the details it's a closed ended fund for eight years with a termination based proceed distribution on sale.
In more simple terms the fund is hedging on a powerful Australian currency and favorable market conditions to hopefully buy low and sell high.
Usage is a perk with 14 days annually and at other times the properties would be rented out. Supposedly this would cover fund management and carrying costs.
The promoter of the fund is Australian Jo Perrott who's father Michael is a well known entrepreneur.
It's the intention of the fund to raise USD20 million with units priced at USD250,000.
There are numerous reports in the Australian business press about the Perrott family and both successful and challenged investment vehicles.
Looking at the fund collateral online, photos of a generic west coast ocean villa are shown.
We are seeing a sharp rise in equity and alternative investments on the island again after a period of inactivity triggered by the GFC a few years ago.