First Property Group PLC
26 April 2012
Date: 26 April 2012
On behalf of: First Property Group plc ("First Property",
"the Company" or the "Group")
Embargoed for: 0700hrs
First Property Group plc
IPD Performance Ranking
First Property Group plc (AIM: FPO), the commercial property fund management group, is pleased to announce that the investment performance of its funds under management in Poland and in Central Europe has again been ranked No.1 versus the Investment Property Databank (IPD) universe for Central & Eastern Europe (CEE), for the six years to 31 December 2011. Its investment performance had previously been ranked No.1 versus IPD's CEE universe over the three, four and five years to 31 December 2008, 2009 and 2010.
The Group's most recently launched fund which focuses on Poland, Fprop Opportunities plc (FOP), has so far made two investments, which are earning rates of return on equity of 31% and 18% per annum respectively. The fund targets properties from which it expects to earn a minimum rate of return on equity of 15% per annum. It is structured to distribute all surplus earnings to investors as they are earned. The fund is periodically open to new subscriptions.
Ben Habib, CEO of the Group and CIO of FPAM, said:
"Investment Property Databank's independent assessment that our investment performance ranks No.1 versus its Central European universe over the last six years is a pleasing verification of our investment strategy."
For further information please contact:
First Property Group plc Tel: 020 7340 0270
Ben Habib (Group Chief Executive www.fprop.com
& FPAM Chief Investment Officer)
Jeremy Barkes (Director, Business firstname.lastname@example.org
Arden Partners Tel: 020 7614 5900
Chris Hardie (Director Corporate
Redleaf Polhill Tel: 020 7566 6750
George Parrett email@example.com
Notes to investors and editors:
First Property Group plc is a commercial property fund manager with operations in the United Kingdom and Central Europe. The Group's investment performance is ranked No.1 versus Investment Property Databank's (IPD) CEE universe over the three, four, five and six years to 31 December 2008, 2009, 2010 and 2011.
The business model of First Property Group is to:
-- Raise third party funds to invest in income producing commercial property;
-- Co-invest in these funds;
-- Earn fees for the management of these funds. Fees earned are a function of the value of assets under management as well as the performance of the funds;
-- Earn a return on its own capital invested in these funds.
First Property Asset Management Limited is authorised and regulated by the Financial Services Authority. Further information about the Company and its products can be found at: www.fprop.com.
This information is provided by RNS
The company news service from the London Stock Exchange