Surprise as managers back property for '08

Managers of funds invested in the energy and mining sectors were also optimistic for this year, while pessimism persists in the financials sector. Property was the worst performing UK sector last year, having been the third best performing in 2006. And, while the scale of withdrawals during the second half of 2007 was evidence of investors having lost faith, the fund managers interviewed by S&P were positive. Amongst them was Patrick Sumner, manager of the Henderson Horizon Global Property Equities fund, who expects to see a return of 9pc in 2008. He noted that while private investo...