Burdett warns on high cash positions in property funds as inflows surge

F&C multi-manager Rob Burdett has warned mainstream property funds are holding too much cash following a surge in inflows, making the sector unattractive.

Burdett (pictured), in charge of a range of portfolios at F&C, said he has grown increasingly concerned about high cash weightings which are prevalent across the IMA property sector, following strong investor interest. Many onshore property funds in the IMA Property sector are now holding double-digit percentages in cash – as high as 18% in some cases – following increasing inflows into the sector as investors seek to access what little yield is left in markets. The sector was the best-selling earlier this year, with net retail sales of £242m during August, but Burdett said cash level...