Insight trust joins FTSE 350

property trust invited to join main ftse index after adding holdings since 16 July launch

Insight Investment's Foundation Property Trust, which launched on 16 July, has joined the FTSE 350 index and, according to Insight, is trading at the largest premium to NAV in its sector, between 11% and 12%. Duncan Owen, managing director of Insight's property business, said: "With our growing size, rather than just being listed as an investment company we are now being invited to join the main FTSE index. We are going to be listed as a normal mid-cap company rather than just an investment company." He said, as a result, index trackers are now taking an interest in its shares. The trust...