Investment returns at the UK's first residential index property fund surged by 19.7% in the first five months of this year, amid signs that tumbling house prices may have turned a corner, according to Alpha Beta Fund Management (ABFM).
Investment returns at the UK's first residential index property fund surged by 19.7% in the first five months of this year, amid signs that tumbling house prices may have turned a corner, according to Alpha Beta Fund Management (ABFM).
The ABFM UK Residential Index Value Added Fund aims to create an investment exposure similar to buying a house, but rather than investing in bricks and mortar it provides investors with access to residential property returns through the use of property index products.
ABFM Partner and Fund manager Robert Page said: 'We significantly outperformed the benchmark Halifax House Price Index (HHPI) up until the end of May. Sentiment now does appear to be turning in the UK housing market with the HHPI up 2.6% last month. ABFM expects house prices to consolidate further and end the year flat to slightly lower, but not to fall by as much as the 9% now indicated by the forward derivatives market.'
