commercial property

It has been a monumental ten years for equity and bond markets, with the euphoria of the first half matched by the despair seen on the faces of traders in the second half, after one of the worst financial meltdowns ever seen.

Henderson Global Investors has acquired French property asset management firm Horizon Investment Management.

The £132m First State Global Property Securities fund has dominated the IMA Property sector over the last five years, being one of only two funds to make a positive return over that period, and has returned 84.5% since 2009.

The Financial Ombudsman Service (FOS) has ruled against an adviser who recommended clients invest in cells of the Stirling Mortimer fund range.

Stirling Mortimer, the offshore property fund caught up in a dispute over €9.8m of cash which went missing from one of its cell funds, has agreed an out of court settlement to end an upcoming legal battle.

The Serious Fraud Office (SFO) has apologised to property tycoon Vincent Tchenguiz over the way it handled an investigation into the billionaire's involvement in Icelandic bank Kaupthing.

The company that controls the Empire State Building has revealed plans to raise as much as $1bn in an initial public offering, and become a real estate investment trust.

Alex Jeffrey has joined M&G's real estate fund management arm PRUPIM as chief executive.

The chief executive of Invista Real Estate Investment Management and three of his team have joined Schroders' property funds arm.

Asset managers have accused platforms of harming investor interests because they are unable to support tax efficient property funds, which were given a welcome boost in last week's Finance Bill.