Multi-asset managers have been moving back into property for the first time since the financial crisis, as higher income levels from the sector attract yield-hungry investors.
Property fell out of favour as values dropped by as much as 40% during the crisis and many direct property funds closed to redemptions, with some still shut five years on. However, attractive income returns are drawing buyers back to the property market. The latest figures from the Investment Management Association show net retail sales of property funds hit £98m in April, the highest level since June 2011, suggesting investor appetite for the sector is returning. Ignis Asset Management head of real estate Gary Hutcheson said some 80% of returns from property funds now come from inc...
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