The Fund aims to provide a high and increasing level of income as well as capital growth over the long term (5 years or more). The Fund will be a Property Authorised Investment Fund (PAIF) for tax purposes at all times. The Fund invests at least 60% of its assets in UK commercial real estate and in shares and bonds of UK companies in the real estate industry. The Fund may also invest in other assets including cash and bank deposits, money market instruments, non-UK commercial real estate, residential real estate, funds (collective investment schemes including exchange traded funds) and real estate outside of the UK. The investment manager may use derivatives (complex financial instruments) to reduce risk or to manage the Fund more efficiently. The Fund is actively managed with reference to the IA UK Direct Property sector average, which is based on a peer group of broadly similar funds, as this can provide a useful comparator for assessing the Fund’s performance.


Fund details

Type of fund
PAIF (Property Authorised Investment Fund)
Launch date
01 June 1999
Earliest date of winding up
Not applicable
Total number of Unitholders