Standard Life Investments, one of the largest property fund managers in Europe, announced that its Select Property Fund has broken the €1.4 billion (£1bn) barrier in less than 15 months since its launch on 13 October 2005, making it the fastest growing mutual fund in the UK during the first 11 months of 2006.
Barry MacLennan, Investment Director Mutual Funds & Life Funds, Standard Life Investments, said:
"The UK retail market is one of the most competitive in the world, so it's a real achievement that the Select Property Fund has been the best selling fund for the greater part of 2006. Fund inflows remain strong as investors continue to seek property exposure offering diversification on a global scale. Demand has also been helped in no small way by impressive performance since launch. The Fund has benefited from both strong stock selection and broad geographical and sector diversification, enabling it to return an outstanding 44.2%."
Source: Standard Life Investments