Kames strengthens open-ended fund team

John DearKames Capital has appointed John Dear as co-manager of its open-ended Active Value Property fund.

Dear has been working in Kames’ property investment team since February 2011, most recently as an assistant manager on the Kames Property Income fund since its launch in March 2014.

He joined Kames from commercial property and real estate services adviser CBRE, where he was an associate director in the hotels capital markets team.

Dear will work alongside the open-ended fund’s current lead manager Helen Batten. Launched in 2009, the fund targets commercial properties valued between £2 million (€2.6 million) and £10 million, and seeks to deliver performance of 0.5% per annum above the IPD/Association of Real Estate Funds All Balanced Property Funds Index on a three-year basis.

In recent years, investors have returned to commercial property in droves following its post-financial crisis nadir, favouring the sector as a source of income and portfolio diversification. According to data from Savills, capital invested in 2015 in Europe’s commercial property was around 30% above the long-term average, and nearly 80% of 2007 levels.

Kames Capital manages assets of around £60.5 billion (€77 billion).

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