28th Feb 2014 11:29
LONDON (Alliance News) - F&C UK Real Estate Investments Ltd Friday reported strong returns from its share price and net asset value over the six months to end-December.
In a statement, the trust reported a 18.9% share price total return and a 11.0% net asset value pe share total return, bringing the net asset value per share total return since it launched to 58.8%.
"The group has experienced a strong six months with sentiment towards UK commercial property becoming increasingly positive," Chairman Quentin Spicer said in a statement.
The trust's portfolio ungeared total return was 6.6% over the period.
"The portfolio is reasonably well positioned with an exposure to London and the South East of 59.2 per cent and key locations in the regions. There are continuing asset management opportunities to add further value and to expand the portfolio by recycling the proceeds of sales and seeking new buying opportunities. The board believes that the company's portfolio is well placed to benefit from this period of continued recovery," it said.
F&C UK Real Estate Investments shares were up 0.4% at 84.313 pence Friday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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