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UK: SLI merger to create £3bn property fund

By  |  January 18, 2016

Standard Life Investments is to merge two property funds to create £3 billion real estate portfolio.

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    SLI UK Property will merge with SLI Ignis UK Property fund in May to create the SLI Real Estate fund, managed by George Shaw.

    SLI said the objectives and methodology of the two funds overlapped, and the merger would increase scale.

    Targeting both capital growth and income, SLI Real Estate will seek opportunities in the UK physical commercial property market.

    SLI will bear the administrative costs of the merger. Annual management charges on the amalgamated fund will be 1.3% for direct retail investors and 0.75% through a fund platform.

    The move comes as part of a series of changes following SLI’s £390 million purchase of Ignis Asset Management in 2014, with 11 out of 12 Ignis funds now merged into SLI funds.

    Full content: iNvezz

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