UK listed real estate fund manager Invista Real Estate Investment Management has been appointed by Clerical Medical to launch its new fund, the UK Property Fund, which will be offered to retail investors through independent financial advisers in January.

Structured as an authorised UK open-ended investment company and focused predominantly on the UK market, the fund aims to achieve long-term capital appreciation by investing in a portfolio of commercial properties that offer a strong and stable income stream over the medium to long term and above-average capital growth potential.

The fund forms part of a new investment proposition, Clerical Medical Investment Solutions, designed to help support IFAs run their business by providing an efficient and comprehensive range of services within today's increasingly complex market and regulatory environment.

The new mandate increases Invista's number of funds under management to 23, of which eight are with the HBOS group. As an Oeic the fund represents a complementary product in the range of property investment vehicles managed by Invista.

'The award of this mandate serves to reaffirm the strength of our existing relationship with HBOS and highlights the importance that Clerical Medical places on active fund management initiatives,' says Invista chief executive Duncan Owen.

'We believe that the strengths of both organisations have combined to create an excellent opportunity for those who share an understanding of the short to intermediate risks and volatility of the real estate sector and hidden opportunities in taking a longer-term approach to investment.'

'Despite the difficult conditions in the UK property market, Invista believes that the underlying fundamentals of property remain healthy over the medium to long term, offering investors attractive returns and remaining an important and strategic investment to hold.'

Invista Real Estate Investment Management had a total of GBP8bn in assets under management at the end of June in commercial and residential property across the UK and continental Europe.

Its range of investment vehicles includes real estate investment trusts and open-ended fund such as Invista Foundation Property Trust and Invista European Real Estate Trust, which are listed on the main market of the London Stock Exchange, as well as a fund of funds, the Invista Property Portfolio Fund. Invista has offices in London, Paris and Guernsey and employs more than 100 people.

       

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