A real-estate fund that once managed around 2.8 billion yuan ($448 million) and focused on Chinese properties has halted operations and is now looking abroad.

一家专注于中国市场的房地产投资基金已暂停投资中国市场，并将目光投向海外。这家基金所管理的资产规模一度达到人民币28亿元（约合4.48亿美元）左右。

Fund management firm Harvest Real Estate Investment, run jointly by Beijing-based asset manager Harvest Fund Management and London-based Grosvenor Fund Management, is halting its investments in China. Harvest Real Estate is switching its focus to investing Chinese money in real estate outside the country, said James Raynor, chief executive officer for Grosvenor Fund Management.

基金管理公司嘉实房地产投资（香港）有限公司(Harvest Real Estate Investment, 简称：嘉实房地产投资)正暂停投资中国市场。该公司由总部位于北京的嘉实基金管理公司(Harvest Fund Management Co.)和总部位于伦敦的高富诺基金(Grosvenor Fund Management)共同运营。高富诺基金的首席执行长雷纳(James Raynor)说，嘉实房地产投资正转为专注于将中国资金投向海外房地产市场。

Harvest Real Estate has also stopped fund raising for a planned $500 million dollar-denominated fund, called HREI China Total Return Fund, he added.

他还说，嘉实房地产投资也已停止拟推出的规模5亿美元、投资币种为美元的嘉实房地产投资中国综合回报基金(HREI China Total Return Fund)的募资。

'We needed to balance where we felt the greater opportunity is going forward, and outbound was what we wanted to focus on,' said Mr. Raynor, adding that Grosvenor still considers China a positive long-term market.

雷纳说：“我们需要权衡未来在哪里有更大的机会，而海外市场是我们都希望关注的地方。”他还说，高富诺依旧认为，从长期来看中国市场是乐观的。

Mr. Raynor said Harvest Real Estate will cut some positions, though he didn't release details. In 2012, HREI had a team of 20 staff based in Hong Kong and Beijing.

雷纳透露，嘉实房地产投资将减持一些头寸，但他未披露这方面的具体细节。2012年，嘉实房地产投资在香港和北京的团队共有20名员工。

More Chinese investors are looking to invest in real estate abroad, driven by high prices at home and a desire to diversify. Chinese outbound investment in commercial real estate reached $7.6 billion in 2013, more than double 2012's $3.3 billion, according to data from Jones Lang LaSalle. Some investors say foreign markets offer more opportunity and cheaper financing.

目前有更多中国投资者希望投资国外房产，主要是因为国内房价较高，并且他们也希望使投资多元化。仲量联行(Jones Lang Lasalle)的数据显示，2013年中国对外商业不动产投资达76亿美元，较2012年的33亿美元增长了一倍多。一些投资者说，外国市场提供了更多机会和成本更低的融资。

Meanwhile, the broader Chinese property market appears to be softening along with the rest of the country's economy. Developers are cutting residential prices in small cities as economists warn of overcapacity. Many property companies are also facing tightening credit, lower returns, slower demand for homes and intensifying competition amid a deepening supply glut.

与此同时，在中国经济整体走弱的背景下，房地产似乎也不能独善其身。在经济学家警告房地产市场供应过剩的同时，开发商也已开始下调小城市的住宅销售价格。在供应过剩加剧之际，许多房企还面临信贷紧张、回报率下降、需求减少和竞争激烈的困局。

Rong Ren, who headed Harvest Real Estate Investments since its inception in 2012, has agreed to leave the firm, a person familiar with his plans said.

据一位知情人士透露，自2012年嘉实房地产投资创办以来就担任其行政总裁的任荣同意离开公司。

Mr. Rong was formerly managing director at Harvest Capital Partners, a real-estate fund set up by state-backed conglomerate China Resources Group, until 2012. Despite the similar name, Harvest Capital Partners isn't related to either Harvest Real Estate or Harvest Fund.

2012年之前，任荣在汉威资本管理有限公司(Harvest Capital Partners, 简称：汉威资本)担任董事总经理，该公司是中国国有综合企业华润集团(China Resources Group)所设的地产投资基金。尽管英文名类似，汉威资本与嘉实房地产投资和嘉实基金并无联系。

The person familiar with the situation said Mr. Rong's departure isn't related to turmoil at China Resources, where Chairman Song Lin was stripped of his position by Communist Party officials for 'suspected serious violations of discipline and law.'

据上述知情人士说，任荣的离职与华润集团的人事动荡并不相关。华润集团董事长宋林因涉嫌严重违纪违法被免职。