Fund managers back property for income as Chatfeild-Roberts buys in

Multi-managers are continuing to turn to commercial property as they seek to combine capital growth with new income streams.

The asset class has seen a surge in popularity over the past 12 months as capital returns jump, but it is the income diversification that is now seen as particularly attractive. The capital return story is not over yet: the asset class is expected to post total returns of between 10% and 15% this year, according to consensus estimates. But the desire for income was underlined last week when it was revealed Jupiter’s John Chatfeild-Roberts has made his first investment in the sector in a decade, adding the Mayfair Capital Commercial Property Trust to his £4.6bn Merlin Income and £1.6bn...