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Institutional Real Estate Firm Will Offer Fund

An institutional real estate investment advisor is planning to offer a new real estate-oriented mutual fund.

The Lend Lease U.S. Real Estate Securities Fund intends to invest at least 85 percent of its assets in the stock of U.S. real estate companies, according to a registration statement the Lend Lease Funds filed with the SEC Nov. 1.

The fund's adviser, Lend Lease Real Estate Investments of Atlanta, Ga. manages approximately $30.5 billion in U.S. assets on behalf of pension funds, insurance companies, endowments and other institutions, according to the registration statement. The fund will be sold with a sales charge of up to 5.75 percent.