Feb 28 2006
Norwich Union is to add to its ISA range by introducing a popular property unit trust on March 6th.
The Norwich Union Property Trust ISA/PEP primarily invests in UK retail, offices and industrial commercial property, property shares and cash.
Neil Davies, investment director at Norwich Union, explained the property fund had traditionally been popular with customers as they felt comfortable investing in bricks and mortar.
He added: "It has produced strong returns and this ISA launch will appeal to people who want to invest in commercial property through a tax-efficient wrapper.
"Commercial property, with its strong asset backing, has plenty to commend it. It can deliver an attractive and steady income stream from rents with the potential of capital growth."
The fund has given a return of more than 15 per cent over the 12-month period to January 31st with comparable annual returns over three years standing at 15.7 per cent and over five years at 10.6 per cent.
