F&C Reit Asset Management, the property asset management group created in September 2008, says the aggregate of its property portfolios outperformed the Investment Property Databank database in 2009.

The aggregate of all F&C Reit property portfolios monitored by IPD ranked F&C Reit’s performance in the eighth percentile.

This aggregate outperformed the IPD index return figure of 2.8 per cent by 9.1 per cent in 2009, returning 12.8 per cent. 
 
The property performance of all three closed-ended listed UK commercial property vehicles managed by F&C Reit - ISIS Property Trust, IRP Property Investments and F&C Commercial Property Trust - outperformed the IPD benchmark in 2009 by seven per cent, 9.5 per cent and 6.4  per cent respectively.
 
Since its creation, F&C Reit has completed transactions worth over GBP1bn. In 2009, the firm secured one of the largest property deals of the year when it acquired the Dawnay Day portfolio consisting of 211 properties for GBP635m.
 
Leo Noé (pictured), executive chairman of F&C Reit, says: “The returns across the group and the exceptional outperformance in our first full year as a combined entity highlight that the merger has been a great success. Increased investment in new properties, aligned with continuing good asset management activities for existing properties in the portfolios are the primary reasons for the strong performance.”