Sovereign investors raise property holdings

London

SOVEREIGN investors are raising their property exposure at the expense of low-yielding bonds in an attempt to boost returns, but "Brexit" is seen as a significant negative for all UK investments, a study by asset manager Invesco showed.

The annual report, published on Monday and based on interviews with 97 sovereign wealth funds, state pension funds and central banks with assets in excess of US$12 trillion, found sovereign investors underperformed their target returns by 2 percentage points on average over the past year.