Kames readies launch of income PAIF

Kames Capital is set to launch its first Property Authorised Investment Fund (PAIF) on Friday, to be co-managed by David Wise and Alex Walker.

The fund will aim to deliver an annual yield of 6%. It will be managed using the ‘Active Value' strategy, which aims to exploit the gap between prime and secondary property and is currently employed on two existing institutional funds. David Wise, director of property investment, says: "The UK property market has finally turned the corner with property valuations benefiting from the recovery in the UK economy. However UK banks and other distressed property owners remain sellers, meaning many buildings are still available at attractive prices." The strategy aims to add value through pi...