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SLI aiming high with £250m UK property fund

Standard Life Investments is planning to set up a £250m UK property income fund before the end of the year.

The fund will have a target annual gross dividend yield of 6.5 per cent and is underpinned by an institutional quality portfolio of properties which are let on long leases.

It will be a Guernseybased investment company quoted on the London Stock Exchange and will be promoted as product with a high income and stable capital base.

The fund will be aimed at high-net-worth individuals, stockbrokers and IFAs who are looking for a high, stable income.

It will be Isable and open to self-invested personal pension and Pep transfer investors. Minimum initial investment is £5,000. There is a management fee of 0.85 per cent.

SLI Property Investments has more than £6.5bn invested, putting it among the five biggest property investors in the UK.

Investment director property Andrew Jackson says: “This fund can be defined by what we call the three Qs – a quality manager, a quality portfolio and a quality yield.

“Investors can take confidence from Standard Life Investment&#39s excellent track record in property management. Many investors are currently sitting on cash holdings earning low rates of interest and this fund presents an alternative.”

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