Kames launches closed-ended version of property fund

Kames Capital has launched a closed-ended version of its Active Value Property fund for Helen Batten.

The new version of the vehicle will have a seven-year life, with the opportunity to extend for a further two years, and will target an annual return of 8%-10%. Investors have already committed £115m to the fund, which is structured as a Jersey property unit trust and follows the same investment strategy as the existing open-ended vehicle. It will invest in good quality properties on the secondary market, favouring those below the £15m price bracket. David Wise (pictured), property director, said: "There are still plenty of exciting opportunities in the secondary property market, pa...