David Jane: There is more to property than UK bricks and mortar

Whenever we are asked for our views on property, in almost all cases the question seems to mean: "What is your view on UK bricks-and-mortar property funds?" In practice, this is an area we do not consider. The reason is quite simple - they can be highly illiquid, and liquidity is core to our process. This is not, however, to say we cannot use property as an important source of diversification in our portfolios. Property, like equities and bonds, is driven by its region's economic and interest rate environment but often performs in ways that provide an important diversification benefit. ...