Valletta Fund Management announced that the La Valette Multi Manager Property Fund, which offers investors the opportunity to invest primarily in the UK and/or European real estate property market, has as at 22 May exceeded EUR80 million in fund size.

The La Valette Multi Manager Property Fund has proved to be particularly attractive to experienced investors as it aims to deliver consistent income as well as potential for long term capital growth, at lower volatility levels than that associated with equities and bonds. For the period from launch on 13 September 2005 to 22 May 2007, the fund registered an annualised return of 10.33 per cent.

This growth can be attributed to the benefits that the multi manager concept has to offer, that is, diversification across a variety of property funds managed by specialist fund managers. In effect, as at 22 May, the fund’s portfolio was comprised of 15 property funds that primarily invest in the UK and/or European commercial real estate property markets, as well as the Asian property market.

The La Valette Multi Manager Property Fund is denominated in euro and aims to distribute income twice yearly. This means that investors may benefit from income streams derived from regular contractual commitments in the form of rent, generally under the terms of long-term leases with normally upward only rent reviews.