Kames Capital is launching a second version of its closed-ended UK Active Value Property unit trust with a £50m seed investment from West Midlands Pension Fund.
The Active Value Property fund II is a seven-year closed-ended fund, and will follow the same investment strategy as the original UK Active Value Property unit trust, which raised £275m. It will be managed by Philip Bach, supported by the Kames property team, who will target the good quality secondary commercial property market, particularly those properties in the £5m to £15m price bracket. The new fund will aim to raise £250m and will have a target distribution yield of around 6.5% per annum gross of AMC (paid quarterly). Kames, which has been running its Active Value strategy fo...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes