FPIL GLANMORE PROPERTY FUND
A medium risk property fund that invests in UK commercial properties let out on secure medium term leases. Available only in sterling.
The Glanmore Property Fund enables investors to spread their risk
over a broad range of properties, the cost of which would normally
be prohibitively expensive for a single private investor. The Glanmore
Property Fund has to date offered investors quality management,
low costs, low risk, income diversification, prudent gearing, quality
tenants with good liquidity and good performance. The fund is available
for direct investment or through the Friends
Provident International Ltd mirror funds (What
are mirror funds?) in the Isle of Man. It is only available
to lump sum investors directly or through one of the Friends Provident
products. The fund is managed by Tilney Asset Mgmt. Intl. Ltd who
are based in Guernsey but listed on the Irish Stock Exchange. Cardales
Chartered Surveyors are the advisers.
- To provide investment opportunity in a higher yielding sector
of UK commercial property market.
- To offer a low volatility asset class not correlated with bonds
or equities: offering diversification.
- Has modest gearing (maximum 1:1.22) where this allows clear
shareholder yield and growth benefit.
- To provide annual compound growth (the sum of net income added
to the movements in the capital value of the underlying assets
during the period) which will on a rolling five year basis exceed
the Investment Property Databank Property Index for similar property
- To achieve approx. 5% annual yield, with capital growth.
- To invest in a diversified portfolio of commercial properties
in the retail, retail warehouse, office and industrial warehouse
sectors of the UK market (currently approx 50% of the properties
are offices, 40% retail premisies and the rest are ligh industrial
- To invest 70% of the gross value of the Portfolio into good
quality, higher yielding, commercial properties with no individual
investment on acquisition representing more than 15% of the gross
value of the portfolio;
- The fund has approx 45% of the properties let on leases over
10 years, 36% on 5-10 year leases and 19% under 5 years
- To invest up to 30% by gross value of the Portfolio into properties
that stand to benefit from active management in order to have
the possibility of achieving a better overall return from the
portfolio than standing investments.
The main fund achieved a compound annual growth rate of 12.3% pa in the five years since launch in May 1999 to end April 2004
The FPIL mirror fund was launched in December 2002 and achieved an annual compound growth of 5.5% to end April 2004.
1.6% per annum
Monthly : Latest fund prices
This fund will be subject to volatility and may go down in value as well as increase. This risk is reduced the longer the investment is held. Past performance is no guarantee of future performance.
* indicates a Friends Provident International Ltd Mirror Fund