Swip: property funds will take years to recover lost value

Swip's Gerry Ferguson has said it will take a number of years for UK property funds to reach the capi...

Swip’s Gerry Ferguson has said it will take a number of years for UK property funds to reach the capital values present before the real estate correction. The manager of the £1bn Swip Property Trust, which invests directly in property, said that while rental growth should recover in 2009 any net asset value rebound will be slow. “Capital growth numbers will be a lot less than they were,” he said. The fund reports a -17% result over one year as at 26 May according to Morningstar. New Star UK Property stands at -20.5% and Skandia Investment Management Property stands at -20.6%. “It w...