Bestinvest says
A UK bricks and mortar commercial property fund offering core exposure to the asset class. At least 10% of the fund's assets will be held in cash or near cash equivalents at any one time. The fund also holds a small position in the equity of higher yielding property companies and their fixed income bonds. Investors should note that the management group reserves the right to swing the unit price without notice to reflect net fund flows. In April 2012 we downgraded this to 3 stars, as we now prefer funds of property shares.
This property fund aims to provide investors with a total return consistent with a balanced commercial property portfolio. Generally the focus is on prime (quality) buildings although some higher quality secondary properties that offer asset management opportunities may also be included. Charges are deducted against income. The reference benchmark for performance purposes is the IPD index.