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Kames launches property recovery fund targeting 8-10% returns
by James Phillipps on Oct 21, 2013 at 10:08
Kames Capital is launching a closed-end version of its existing Active Value Property fund, which will target annualised returns of 8-10%.
The fund, which will launch with £115 million, will focus on property in the secondary market, particularly those in the sub-£15 million bracket.
Managed by Helen Batten, the fund will be structured as a Jersey property unit trust with a seven year life and the option to extend this for another two years.
Kames property director David Wise said: ‘There are still plenty of exciting opportunities in the secondary property market, particularly in the sub £15 million sector.
‘It is an area often neglected by large property funds and is probably out of reach for the majority of smaller commercial property investors especially now that debt for such properties is both hard to come by and expensive.’
Kames said the existing open-ended Active Value Property fund has delivered a total return of 8.5% a year since launch in December 2009 .
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