Standard fails to raise minimum for property fund

Standard Life Investments has shelved plans to launch its Property Income investment company because of a lack of interest amid weak market sentiment. The group aimed to raise a minimum of £160m but fell short of that amount and will return all monies raised to the subscribers immediately. The fund would have been a close-ended company listed on the London Stock Exchange. Andrew Jackson, investment director of property research at Standard Life, said a re-launch would be considered once market conditions improved. Jackson said the monies raised were in excess of £100m and the group...