View more on these topics

Standard Life confirms UK property launch

Standard Life has confirmed plans to launch a UK property unit trust.

The £175m UK property fund invests directly in UK commercial property. The fund currently offers an income yield of 6.6 per cent and has a 15 per cent cash position.

The fund was previously run for internal asset allocation purposes and was available to investors through its offshore bond and Irish unit-linked pension products.

The fund is to be managed by Nigel Chapman.

Standard Life investment director- mutual & life funds Barry MacLennan says: “We are hugely excited about this new addition to our range of mutual funds as it completes the mix of property funds we have on offer to investors. Our Global REIT Fund invests in listed property companies, while our select property Fund provides a diversified mix of direct and indirect property investments globally. Now with the addition of the UK property fund, our investors have a choice of direct, indirect and hybrid property vehicles.

“We believe that investor confidence is returning to the commercial property market, with the UK furthest advanced in the cycle. So this core property offering should enable investors to benefit from attractive property pricing available during the trough of the property cycle and a more optimistic returns outlook.”

Recommended

Hermes hires chief economist

Hermes Fund Managers announced today the appointment of Neil Williams as chief economist for its fixed income team.Williams’ role will be to provide analysis of key economic issues for the fixed interest and index-linked bond portfolios.Prior to joining Hermes, Williams worked as head of sovereign research/strategy at Mizuho International, and as global head of emerging […]

Fed Treasury purchases slow

The Federal Reserve announced yesterday that it is to slow the pace of its purchase of $300 billion (£181 billion) of Treasury securities.The move means Fed should complete its planned purchases in October, a month later than initially expected. It says the decision has been taken to “promote a smooth transition in markets”.The Fed reviewed […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment