Increase in value of assets too2 Mar 2009 15:49
First Property Group plc (AIM: FPO), the AIM-listed property fund management group, today issues a trading update ahead of the year ending 31 March 2009.
The Group's core commercial property fund management division is continuing to progress well. Total assets under management currently amount to approximately £314 million (30 September 2008 - £290 million). Despite difficult economic conditions, the funds managed by the Group earned an annualised rate of return on equity of some 12% (based on third party valuations), in the nine months to 31 December 2008.