Property fund breaks £1bn barrier - commercial mortgages

05 January 2007

Standard Life Investments'' Select Property Fund, which helps investors access commercial property, has reached a landmark figure, the company has stated.

In news that could be of interest to those who hold commercial mortgages, Standard Life Investments announced yesterday that its property fund has exceeded £1 billion.

Throughout 2006, apart from November, the product was the best-selling fund in the UK, according to Barry MacLennan, investment director of mutual funds & life funds at the firm.

Moreover, Mr MacLennan suggests that this was achieved in one of the most competitive retail markets in the world.

"Fund inflows remain strong as investors continue to seek property exposure offering diversification on a global scale," he said.

"Demand has also been helped in no small way by impressive performance since launch. The fund has benefited from both strong stock selection and broad geographical and sector diversification."

Standard Life also announced this week that it is to celebrate ten years of its UK Smaller Companies Fund.