trust receives fsa clearance for 20% investment in institutional mandate to give instant exposureThreadneedle property launch

Threadneedle's UK Property Trust will have instant exposure to the asset class by investing up to 20...

Threadneedle's UK Property Trust will have instant exposure to the asset class by investing up to 20% into the managers' institutional mandate. Managers Chris Morrogh and Don Jordison have been running an offshore property trust for Threadneedle since 1998 and the firm has received FSA permission to allow up to 20% of the retail vehicle to be invested in this mandate. Morrogh said: "The institutional fund invests into 100 properties that let to 300 tenants. It is a short cut for us which means we can get property exposure straightaway." Overall, the UK Property Trust will have up to 85% ...