SINGAPORE (Oct 14): SLB Development, the property development subsidiary of construction firm Lian Beng Group, has diversified into the fund management industry. The company hopes to generate recurring income that can smoothen out its otherwise lumpy earnings from property development.

SLB announced that it has made its first investment of £2.0 million ($3.5 million) into a UK residential fund, called PinnacleResidential Fund, which is managed by Pinnacle Investment Management Limited, a fund management subsidiary of UK-based Pinnacle Group Limited.

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