Royal London Asset Management is to bring out a commercial property fund in the second half of 2003....
Royal London Asset Management is to bring out a commercial property fund in the second half of 2003.
The group is in the process of seeking FSA approval for money market and corporate bond funds, and a property fund is the the next logical step, according to David Hughson, deputy chief executive at the group.
As part of its distribution strategy, the fund will be made available to Scottish Life International clients, who do not currently have a commercial property product available to them.
Scottish Life and its offshore arm are part of the Royal London group.
Royal London currently runs the Exempt Property Unit Trust, into which it has consolidated a number of smaller funds in the Royal London and Scottish Life range. The fund is valued at just under £100m, Hughson said.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till