M&G Retail Property Fund launched

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M&G Retail Property Fund launched

Mon 7th Nov 2005

M&G has announced the launch of its Retail Property Fund, designed to be fully invested in commercial property offering investors long-term returns.

The M&G Retail Property Fund will be managed by the group itself but will also draw on the expertise of Prudential Property Investment Managers Limited (PruPIM).

Gary Shaughnessy, chief executive of M&G Securities, comments: "Our aim was to launch an innovative retail commercial property fund which combines PruPIM's extensive property experience with M&G's sales and marketing expertise.

"What makes this fund different is that it has scale from day one and is designed to be 100 per cent fully invested in bricks and mortar."

It is anticipated that the M&G Retail Property Fund will offer investors returns from commercial property that are more stable than other assets.

An M&G Property Portfolio is also available to investors at an initial charge of five per cent and an Annual Management Charge (AMC) of 1.5 per cent.

PruPIM reviews over 4,000 new investments each year and handles over £1 billion of commercial property transactions.

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