LGIM to make changes to UK property fund
Legal & General Investment Management has proposed changes to its UK property fund by shifting from a direct property focus to include indirect property holdings through real estate investment trusts (Reits). This move would be referred to as PAIF Hybrid and would see it reduce its exposure to direct property investment to 45 per cent.The fund will also allocate 45 per cent to global Reits and place 10 per cent in cash.This comes as part of a commitment to continue providing investors with access to direct UK property investments and consider requirements for a daily dealing...