Standard Life is introducing a select property fund offering global commercial property exposure after its UK property fund got too popular.The firm’s UK property fund is 11 per cent invested in cash, with inflows of 50m a month and Standard is struggling to invest the money in what it describes as a competitive UK commercial property market. It is hoping to attract investors looking for property exposure and liquidity to its alternative offering and is understood to be considering reimposing limits on investment in the UK fund. The fund offers geographically diversified commercial property exposure by investing in a combination of direct property and indirect prop- erty vehicles, both listed and unlisted in the UK, Europe, Asia and North America. It is aiming at a return of the consumer price index plus 5 per cent over three years. The fund will be available from October 13 and Standard has applied for FSA approval to include the fund in its life and pension products. The initial portfolio will consist of 20-40 per cent direct in the UK and Europe within six months of launch, 10-15 per cent in unquoted, UK-focused property funds, 20-30 per cent to include UK, Europe, North America and Asia and up to 25 per cent in corporate bonds and cash. Standard Life marketing manager Iain McLeod says: “The popularity of property investment in the UK has remained high so the development of this fund will give us the opportunity to continue offering our customers high-calibre property investment options.” l Skandia Investment Management is launching a global property securities fund on October 3, to be run by LaSalle Investment Management. The fund will aim to achieve capital growth through investment in a global portfolio of property-related securities, such as real estate investment trusts. It will be available through Skandia’s fund supermarket, onshore and offshore bonds and pension fund ranges.