NU launches Asia Pacific property fund

The Asia Pacific Property fund, to be run by Morley, the asset management arm of Aviva, will be the first daily-dealt product of its type available to UK retail investors, Norwich Union says. It will invest in a portfolio of office, industrial and retail property across Asia and Australasia, and may prove attractive to advisers because of its weak correlation with the UK commercial property market and Asian equities and bonds. However, NU warns returns in Asia-Pacific commercial property have proved more volatile than those in the equivalent UK and European markets and investors should vi...