Baring Asset Management's Multi Manager Property Fund has increased its exposure to international property, reporting opportunities for growth in the UK look less promising for 2007.
The fund invests purely in commercial property and has 30% invested in opportunities outside of the UK. David Coombs, director of multi-manager investments at Baring Asset Management, said: “The UK property market has been so strong in recent years that yields no longer look as attractive. Commercial property had been undervalued for some time but we feel this anomaly has now disappeared and future returns will need to be driven by value added management and rental growth. As a result we are looking elsewhere for growth opportunities.” According to Baring Asset Management, the German pro...
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