Asian institutions still keen on UK property: Savills IM
Retail investors may be fleeing UK real estate funds, but institutions are staying put, says Kiran Patel, CIO of Savills Investment Management. However, he does expect a drop in returns.
Savills Investment Management, a real estate fund house, has seen very little money leave its UK property strategies since Britain’s June 23 vote to leave the EU, said Kiran Patel, the firm's chief investment officer.
Between the referendum and August 1, the London-based firm's open-ended funds have seen net redemptions totalling 0.2% of their assets under management, he noted.
That’s in contrast to the billions being yanked from strategies run by asset managers such as Aberd…
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