FINANCE: US property funds reported a gross return of 3% in the second quarter of the year, according to the PREA/IPD US Quarterly Property Fund Index.
The index underperformed property equities, which returned 7% during the period.
It is made up of 31 funds with 3,606 assets, and a gross asset value of $185.4bn (£109.9bn) as of 30 June 2014.
Ken Greguski, executive director and head of US client service, IPD, commented: “The US continues to display sold capital growth and strong absolute performance.”
sophia.furber@estatesgazette.com
