BARING Asset Management's (Barings) Multi Manager Property fund manager has increased his exposure to international property as opportunities in the UK look less promising in 2007.
The £16.7m offshore fund invests purely in commercial property and has 30pc invested in opportunities outside of the UK. It aims to achieve long term total returns from a combination of income and capital growth by investing in property funds. Explaining the rationale behind the move, David Coombs, director of multi-manager investments at Barings, said the UK property market has been so strong in recent years that yields no longer look as attractive. He said: “As a result we will be looking elsewhere for growth opportunities.” One such opportunity which Coombs and his team wil...
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