Standard Life Investments expands access to UK Property Fund

Standard Life Investments has confirmed that it is making its UK Property Fund available to a range of investors as a stand alone investment vehicle.

Standard Life said that investors will now be able to access the fund via Standard Life's and other major UK platforms.

To date, the fund has been used primarily for internal asset allocation purposes and has otherwise been available to investors via Standard Life's off-shore bond and Irish unit-linked pension products.

Structured as an authorized property unit trust, Standard Life Investments's GBP175 million UK Property Fund invests directly in UK commercial property. With a cash position of 15% and an average unexpired lease length of 15.7 years, the fund is currently offering an income yield of 6.6% with the prospect of capital growth over time.

The fund, which aims to provide a return from capital appreciation and income over the longer term, will continue to be managed by Nigel Chapman.

Barry MacLennan, investment director of mutual and life funds at Standard Life Investments, said: "We are hugely excited about this new addition to our range of mutual funds as it completes the mix of property funds we have on offer to investors. Our Global REIT Fund invests in listed property companies, while our Select Property Fund provides a diversified mix of direct and indirect property investments globally. Now with the addition of the UK Property Fund, our investors have a choice of direct, indirect and hybrid property vehicles."

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Related terms: bond, commercial, investment, mutual funds, products, property, reit, yield