LV= property managers hold a third in cash

LV= property managers have been holding nearly 30% of their fund in cash as they feel it currently o...

LV= property managers have been holding nearly 30% of their fund in cash as they feel it currently offers better value than bricks and mortar. Head of property investment Howard Meaney and manager Charles Maxlow-Tomlinson have accumulated £10m in cash since the LV= UK Property fund launched in September. The vehicle currently has assets under management of £30m. Rather than investing inflows straightaway, the pair decided to hold off until better opportunities arise. Meaney said: "We are going to move back into the market soon and make a few more purchases. "We want to be opportunis...