Fund Manager’s Diary

Monday This is my first day in the office after spending four days last week in Cannes at a property conference, which involved countless lunches, cocktail parties and the like. Consequently, I have ensured that my diary this week will be relatively healthy.

The day starts off with reviewing more than 500 emails that have arrived in the past four days. This takes up most of the morning. The first meeting of the day is to attend our fund of funds allocation meeting and a bid for an allocation to various funds under my management. The afternoon is spent drafting a property investment adviser’s report for our quoted Close High Income Properties commercial property fund, which is due to announce its results shortly. Sadly, the day ends off with a visit to the dentist – not one of my favourite pastimes.

Tuesday Get in the office at 7am to open numerous parcels that arrived the previous week, which were all records I had bought off eBay. I am an avid collector of Motown and Northern Soul music and have amassed more than 1,000 albums and 45s.

The working day commences with a one-hour breakfast meeting with my commercial property team running through deals in the pipeline, as well as transactions occurring within existing funds. We are currently selling a number of relatively dry, well-let investments and focusing future investment in more interesting active management and development opportunities. The rest of the day is spent working on several European transactions we have going through at present.

Wednesday Much of Wednesday morning is spent putting the final touches to a surprise party we are holding for one of my bosses who has been with the business since it was founded more than 15 years ago. This involves a party with more than 100 guests.

The afternoon is spent watching the Budget on the internet, then speaking to journalists about the introduction of real estate investment trusts. As most of our property funds are structured offshore, we already have the equivalent of a Reit structure and it is possible that the conversion charge proposed by the Chancellor will make it unattractive for us to convert these into UK vehicles.

Thursday The morning is spent in monthly fund management meetings, which overrun into lunch. It becomes increasingly difficult to keep these meetings within my preferred two-hour limit, given that in the CHIP fund we have more than 80 properties with 750 tenants. I manage to squeeze in a squash game in the afternoon (but lose badly). The evening is spent playing some of my “new” records – which are all more than 30 years old.

Friday Friday consists of a series of investment committee meetings to approve new acquisitions and disposals, as well as dealing with correspondence from investors and joint venture property managers. Friday evening is spent putting the finishing touches to a video some of the staff have put together for the surprise party, which will have taken place by the time you read this.

Over the weekend I am hoping to catch some of the Commonwealth Games on TV, which is taking place in my home city of Melbourne.

• Peter Roscrow is managing director of Close Property Management, the property management division of Close Brothers Group. He is the property investment adviser on Close High Income Properties. His diary runs from March 20-24.