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Swip switches giant property fund’s pricing as inflows surge

Scottish Widows Investment Partnership (Swip) has moved the pricing of its £2.5 billion Property Trust from a mid to an offer price basis following significant flows into the fund.

The Swip Property Trust has operated on a mid-price basis since February 2012, but has switched this as the fund has attracted more than £250 million of new money since January.

‘We have taken this action to help protect value for both current investors in the trust and those who may look to invest,’ Swip stated.

The firm added: ‘We are closely monitoring the situation and will review the position should there be any change.’

Managed by Gerry Ferguson (pictured), the fund has returned an annualised 1.85% over the past three years compared with a peer group average of 3.25%, placing it in the sector’s bottom quartile, albeit the peer group includes a number of property share funds that distort comparisons.

The fund’s major holdings include properties in London’s Oxford Street retail district and the Hermiston Gait retail park in Edinburgh.

Following its £550 million acquisition of Swip, Aberdeen Asset Management’s global head of property, Andrew Smith, left the group.

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Gerry Ferguson
Gerry Ferguson
6/12 in Property - UK Physical (Performance over 3 years) Average Total Return: 16.17%
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