Stoneweg Europe Stapled Trust sets sights on Spain and Switzerland to grow unit price

[SINGAPORE] For too long, the property markets in Spain and Switzerland have eluded Stoneweg Europe Stapled Trust (Sert), but this may soon change, with the managers having welcomed a European sponsor late last year.

Simon Garing, chief executive officer and executive director of Sert’s managers, told The Business Times: “For many years, we wanted to get into Spain, but we had no boots on the ground.”

And Switzerland, although “a great market” similar in some respects to Singapore, had also been tough to break into because the assets there are “very tightly held”, he said.