F&C is launching its first open-ended real estate fund as it faces losing the mandate for its £617m F&C Commercial Property trust (FCPT).
Co-managed by Julian Smith and Guy Glover of F&C REIT, the UK Property fund will invest in UK commercial property at what the managers believe is an attractive point in the market cycle. The pair will build up a portfolio of new assets specifically chosen for the fund, aiming to provide a total return based on income and capital appreciation. Risk will be managed through diversification at sector, geographic, property and tenant levels. Additionally, the fund will retain a cash weighting of 10% to 20% to manage liquidity. Smith says: "Market forecasters are currently predicting upg...
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