Samuel Terry to reject URF appointment of K2

The largest investor in the troubled US property fund created by Dixon Advisory will reject a proposal to appoint K2 Asset Management as the stricken real estate strategy’s responsible entity.

In a letter posted on its website Samuel Terry Asset Management’s founder Fred Woollard said the $670 million fund, which owns 12.7 per cent of the US Masters Residential Property Fund, or URF, had the support of other large investors in blocking the appointment.