Abbey House Price Plus Fund launched

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Abbey House Price Plus Fund launched

A new Abbey House Price Plus Fund has been launched with the aim of outperforming the Halifax House Price Index over the longer term.

The fund, launched jointly with Capita Financial Managers, offers exposure to the UK residential property market without the risks of buying property as a direct investment, according to the bank.

Over the longer term, typically three to five years, the fund aims to outperform the Halifax House Price Index after all charges.

Mike Brown, head of business development at Abbey Financial Markets, said that investors are offered exposure to the UK housing market "without all the associated hassle and cost".

He added that the Abbey House Price Plus Fund also offers lower portfolio management charges than those generally associated with traditional physical property funds.

Minimum investment in the fund, which comes with an annual management charge of 1.5 per cent, is £3,000 and £1,000 for subsequent investments.

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