The property fund run by AFH Financial Group has topped £100m, up from £70m just a year ago.
The MGTS St Johns Property Fund (SJPF) most recently paid £9.9m for Darlington North Retail Park, which includes anchor tenants like Aldi and Iceland.
The fund was created to produce high levels of income and to benefit from long-term capital growth. The fund is exclusively for serviced clients of AFH’s wealth management business.
The fund boasts a mixed-sector portfolio consisting of 54 individual tenancies at 24 locations around the country. The portfolio consists of leisure, industrial, retail, automotive and office investments in strategic locations that demonstrate regional growth across the UK. Less than 1% is currently void.
SJPF property manager Richard Bryan said the fund, which was set up in 2013, would keep on growing.
“The fund’s investment approach is to secure a diverse portfolio with attractive income and capital growth opportunities,” he said.
“The fund’s growth ambition will continue, and subject to available property we have reasonable confidence the asset base of the fund will continue to expand broadly in line with the growth of AFH’s business.”
The fund’s internal yield is presently 6.9%. Allowing for the regulatory requirement to hold cash within the fund, the distribution yield for gross account investors is currently around 5.9%.
St Johns Asset Management, the appointed investment advisers to the fund, is part of AFH Group, one of the UK’s largest independent financial services companies. AFH manages £4.5bn in assets.The group is listed on the London Stock Exchange’s AIM index and has a market capitalisation of more than £160m.This release is not a financial promotion; you should always seek professional advice before making any financial decisions.