Commercial property is nearing the bottom, says New Star's Dossett

New Star's Roger Dossett has said he is surprised his UK bricks and mortar fund continues to see net ...

New Star’s Roger Dossett has said he is surprised his UK bricks and mortar fund continues to see net outflows because the market is bottoming. The manager said he wonders whether people are confusing commercial property with residential, which he believes will continue to fall precipitously. He said the fund remains on a bid basis because it continues to see consistent, if modest, net outflows. “We have had poor performance over the last 12 or 18 months but there has been a reassessment of the asset class as there has in other areas,” he added. “Dare I say it, it does amaze me – I know...