Invista Real Estate Investment Management (Invista REIM) has posted a 1% rise in assets under management to £5.4bn in the period since 31 December.
In a trading update for the five months to 31 May, the company said its AUM increased as a result of inflows to the open-ended funds totalling £140m and valuation increased to £196m.
The company added that its listed trusts, Invista European Real Estate Trust and the Invista Foundation Property Trust have recorded increases in net asset value of 13% and 22% respectively during the period.
Invista said it expected to make a number of new hires in the second half of this year as part of a strategy to develop its distribution capability in light of an improved market outlook.
It said, as a consequence, second half costs were likely to rise as headcount and product development costs increased.
“Trading in the first five months of 2010 has been satisfactory and in line with the board’s expectations,” the company said.
“However, we would highlight a note of caution as it remains to be seen whether the positive momentum witnessed in capital values in the
nathan.cross@estatesgazette.com
