Palmer Capital Partners has closed its Palmer Noble Fund for private investors, and returned a profit to investors.
The fund, set up in June 2005, provided a return of 6% a year over its four-year life, outperforming the IPD index by almost 10%.
Itraised £5m of equity and supplemented this with £10m of gearing.
Alex Price, chief executive of Palmer Capital, said: “I think the fund performed well because of the access to local knowledge that our structure provides.
“All the assets are managed by local companies in which Palmer Capital has a stake. It shows that,if you manage property responsibly, you can make investors money even during a downturn.”
