Standard Life fund takes in £280m

Another UK inflation-hedging property fund has reported strong capital inflows this year. Standard Life said its open-ended Long Lease Property Fund has taken in £280m and now has more than £1bn of assets under management.

The fund, managed by Richard Marshall, has delivered an average 7.5% annual return since its launch nine years ago. It delivered positive returns through the plunge in UK values during 2007-2008. Aviva Investors said last month that its Return Enhancing and Liability Matching funds have taken in £725m in one year.