AuM down at First Property Group despite good trading

First Property Group, a commercial property fund management group, will say at Friday's annual general meeting that trading has continued well and in line with the firm's expectations, despite the difficult economic conditions.

MoneyWeek's avatar
By
published
in Features

First Property Group, a commercial property fund management group, will say at Friday's annual general meeting that trading has continued well and in line with the firm's expectations, despite the difficult economic conditions.

It's clients have also performed well, but the weakening euro has resulted in some capital value reductions in sterling terms, leading to a decrease in its overall assets under management (AuM) from £365m at March 31st to around £350m at the mid-September point. However, the group was keen to underline the robustness of the underlying income generation of its client funds.

"We are working to grow the business of the company in three main ways," the firm said.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

"The raising of a new fund to invest in recessionary resilient relatively high yielding UK commercial investment property; the raising of a new fund to invest in debt secured on income producing UK commercial investment property; and expanding assets under management in Fprop Opportunities (FOP).

"We are making progress in raising new funds and hope to report further in this respect in due course. We are also working on some attractive property investment opportunities on behalf of FOP and similarly hope to report on these in due course."

NR

MoneyWeek
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.

Latest