View more on these topics

M&G announces property portfolio launch

M&G has announced the launch of the M&G Property Portfolio on November 8.

The fund will be managed by M&G drawing on the resources and expertise of Prudential Property Investment Managers.

Gary Shaughnessy, chief executive of M&G Securities, says: “Our aim was to launch an innovative retail commercial property fund which combines PruPIMs extensive property experience with M&Gs sales and marketing expertise. What makes this fund different is that it has scale from day one and is designed to be 100% fully invested in bricks and mortar.

“Investing directly in commercial property offers the opportunity for consistent, long term returns for investors seeking both income and capital growth, with an added benefit of substantially reducing portfolio risk.”

The M&G Property Portfolio is a unit trust with a large well-diversified portfolio of 400m, with over 60 UK commercial properties spread across all key sectors.

John Cartwright, manager of the M&G Property Portfolio, says: “For years, pension funds have enjoyed the consistent returns that commercial property can deliver. Many investors are now beginning to realise its importance as a core asset class, alongside equities and bonds. Returns from commercial property are more stable than other assets and not once over the past decade have they shown a negative return. This is a record no other asset class can compete with.”

The M&G Property Portfolio will be available to investors at an initial charge of 5% and an annual management charge of 1.5%, with a minimum initial investment of 1,000 for lump sum payments.


Mortgage Intelligence appoints financial director

Mortgage Intelligence has appointed Phil Davies as financial director and company secretary. Davies qualified as a chartered accountant in 1994 with Ernst & Young. Most recently, he held the positions of financial controller and senior operations manager for HSBC’s IFA business in the UK. He brings with him international experience of the mortgage industry, having […]

Borrowers continue to opt for fixed rates

Mortgages Direct, the financial subsidiary of Spicerhaart, has revealed that more borrowers are continuing to opt for fixed rate deals because they arent convinced low level of interest rates will hold.Research from Mortgages Direct shows 96% of borrowers opt for fixed rate deals of two to five years. Peter Gladdy, director of Mortgages Direct, says: […]

Moneyquest appoints its first chairman

Moneyquest, the telephone and online mortgage, insurance and loan brokers, appointed Angus McSween as its first chairman.McSween, chief executive officer of web security company Iomart and current holder of the Glenfiddich Spirit of Scotland Award for Business, will oversee Moneyquests two-year expansion plan and drive towards AIM listing.Moneyquest revealed the appointment at its 16th birthday […]

Lending volumes top 18bn at L&G

The Legal & General Partnership says that since Mortgage Day, it has seen lending volumes of 18.5bn. L&G went through a huge transformation pre-Mortgage Day to ensure its firms had enough compliance support to be able to trade successfully in the regulated environment. A risk-based technology system featured heavily in this, designed to help advisers […]

Sub-Saharan Africa Near-Term Outlook

By Paul Caruana-Galizia, Neptune Economist

Sub-Saharan Africa’s economic renaissance continues. After growing at an average rate of five per cent over the past decade, the IMF projects an acceleration to 5.5 per cent growth among Sub-Saharan economies in the next two years, as developed economies emerge from the crisis. We expect this growth to be sustainable for three broad reasons.


News and expert analysis straight to your inbox

Sign up