In its unaudited interim results for the six months ended 30 June, Invista Real Estate Investment Management announced that its assets under management had increased by nearly 11% since the end of last year, to £10.2 bn (EUR 15 bn). Over 70% of this growth was attributable to net funds inflows, it said. Total income was £40 mln (EUR 60 mln), representing an increase of 75% compared to the first half of 2006. Meanwhile an operating profit (excluding interest income) of £23.6 mln (EUR 35 mln) was achieved, 87% up on the same period last year.
In its unaudited interim results for the six months ended 30 June, Invista Real Estate Investment Management announced that its assets under management had increased by nearly 11% since the end of last year, to £10.2 bn (EUR 15 bn). Over 70% of this growth was attributable to net funds inflows, it said. Total income was £40 mln (EUR 60 mln), representing an increase of 75% compared to the first half of 2006. Meanwhile an operating profit (excluding interest income) of £23.6 mln (EUR 35 mln) was achieved, 87% up on the same period last year.
Invista's ceo Duncan Owen said that the results exceeded their initial plan for the period, driven by greater than expected growth in assets under management, especially in continental Europe, together with their funds returns having out-performed. In its investment market forecast, Invista said they expected an outturn of around 7 to 8% from the UK commercial property market for the whole of 2007. The outcome they forecasted for property markets across continental Europe remained more favourable. Certain key economies were illustrating more signs of growth than for the previous ten years, they said, and they anticipated total returns of approaching 14 to 15% in their target countries and sectors.
