F&C launches first open-ended property fund

Co-managed by Julian Smith and Guy Glover of F&C REIT, the UK Property fund will invest in UK commercial property in what they believe is an attractive point in the market cycle. The managers will build up a portfolio of new assets specifically chosen for the fund, aiming to provide a total return based on income and capital appreciation. Risk will be managed through diversification at the sector, geographic, property and tenant levels. Additionally, the fund will retain a cash weighting of 10% to 20% to manage liquidity. Smith says: "Market forecasters are currently predicting upg...