Property

Shareholders in the troubled Invesco Property Income trust have been told they are likely to lose their entire investment after it was suspended pending an effective firesale of its assets.

Standard Life Investments has overhauled its £420m Select Property fund, giving the portfolio a global remit.

F&C is in discussions with the IMA to add its Real Estate Securities and Real Estate Equity Long/Short funds to the IMA Property and Absolute Return sectors sectors respectively.

With banks offloading assets and the Spanish stock market on the up over the past 18 months, some see now as a good time to invest in one of the biggest losers of the eurozone crisis.

Property fund managers are assessing ways to mitigate the potential impact of soaring inflows as the sector becomes increasingly popular with investors.

The latest sales figures from the IMA show property was the bestselling sector in May, but Charles Stanley Direct's head of investment research Ben Yearsley said many investors are piling in too late and have missed the rally in the asset class.

Schroders has hired two listed real estate managers from Australia's AMP Capital to create a new property team as it takes over the Investors in Global Real Estate trust.

Property funds have topped the latest sales charts from the Investment Management Association (IMA), with retail investors pumping a net £491m into the asset class in May.

PROPERTY

PROPERTY