INDUSTRY NEWS

F&C plan three commercial property funds

F&C Reit Asset Management is planning to launch three new commercial property funds next year.

The funds will invest directly in commercial property and while still in their early stages they have been proposed to shareholders.

City Wire reports the first could be a UK Opportunities fund, devised to buy commercial property sold as a result of the economic downturn.

London values have fallen dramatically with some commentators, including the Royal Institution of Chartered Surveyors predicting further heavy losses to follow.

F&C’s second fund will be looking at similar opportunities in Europe and its third will concentrate on providing affordable housing in India.

The company has been heavily hit by falling values – its F&C Investment Trust lost one-fifth of its private equity investments.

Cheaper properties could encourage new buyers to London – significant purchases have already been made from Ireland and the Middle East.

The Kuwait Investment Authority recently paid $642 million (£420 million) for the Willis Building.ADNFCR-1329-ID-18930511-ADNFCR

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