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Swip to launch property investment trust

Scottish Widows Investment Partnership is to launch a new property fund next month, offering investors a gross yield of 7 per cent a year.

The UK Balanced Property Trust Limited will be an investment trust listed on the London stock exchange. The offer period is set to open on February 11, with dealing commencing on March 20.

Swip is looking to raise £150m from the offer, and shares will be sold on a first come, first served basis.

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