Property fund manager and investor First Property Group PLC (LON: FPO) has announced that its UK Property Pension Portfolio fund has been awarded best "Small Specialist Fund" by indexes and analytics provider MSCI as part of its annual UK Property Investment Awards 2017.
The AIM-listed firm said the measurement period for the award was over the three years to 31 December 2016, during which the annualised total return earned by the fund, which is unleveraged, was 8.9%.
In addition, the group added, First Property Asset Management Ltd was one of ten fund managers, out of a pool of 95 such managers, to be awarded a Data Quality Award, recognising data-management efficiency, governance and transparency.
Commenting on the awards, First Property’s group chief executive, Ben Habib said: "I am delighted to receive this recognition from such a respected organisation as MSCI.
“It is testament to our disciplined investment process and the timely and efficient manner in which we manage properties and report on them."
The award news follows a bullish trading update from the group yesterday which said it expects its full-year trading and pretax profits to be in line with market expectations prior to a profit on the sale of a Romanian property announced at the end of March.
First Property also said its funds under management at the year-end amounted to £475mln, up from £353mln in 2016, of which some £313mln, or 65% were client funds, an increase of 60% from the prior year.