Property, mortgages on a roll so far in '07

Standard Life says its Select Property Fund was the fastest growing mutual fund in the first 11 months of 2006, taking total assets under management through the £1bn barrier in the 15 months since it lauched. The provider says the retail accumulation unit price is up more than 44% in that time, something put down to global exposure and strong commercial property performances in both the US and Europe. Meanwhile, in the mortgage space, GMAC-RFC has announced lending exceeding £12bn last year, up 75% on 2005. That growth compares with an overall market estimated to have increased in size ...