LVAM property fund acquires NFU assets

The LV= UK Property fund has spent more than £30m on new assets, including a portfolio from NFU Mutual Insurance Society.

The £22.6m NFU portfolio comprises retail and industrial properties, while the LV= fund also acquired a pair of retail units for £9m last month. "We are delighted with the acquisition of this portfolio which will further broaden the appeal of the recently launched LV= UK Property fund," LVAM head of property Howard Meaney says. Launched in September 2007, the fund has fallen 5.2% over one year to 7 December.