Richard Peacock joins Kames Capital on Property Income fund

Commerical-Property-Building-Real-Estate-700x450.jpg

Richard Peacock has joined Kames Capital as co-manager of the £455m Kames Property Income fund.

The appointment was announced towards the end of last year following previous co-manager Alex Walker’s decision to leave the firm for a career break.

Peacock is managing the fund alongside existing co-manager and Kames’ property investment director David Wise, who he reports to. He is responsible for the team supporting the fund, which includes three assistant fund managers; Gregory Beeson, Karen Fox and Ric Tsang.

The Kames Property Income fund aims to provide income and capital growth by investing in commercial property. While the fund was unusual in remaining open following the Brexit vote, it was the worst hit in the three months following Brexit, according to analysis by Hargreaves Lansdown, with returns of negative 8.8 per cent over the period.

Peacock was previously at Aviva Investors where he had worked since 2005, most recently as the fund manager on Aviva Investors Pensions, a £1.2bn open-ended property fund for UK pension schemes.

Wise says: “Looking back over an interesting year for the UK property sector, our team was able to navigate the post-Brexit property shock which saw many of our competitor funds closing their doors to redemptions, while our fund remained open.

“Property remains a key focus for Kames in 2017, and we believe the appointment of Richard and the wealth of experience he brings, combined with that of the highly experienced existing team, will ensure that we are well positioned to continue maximise the opportunities that the sector presents.”

He adds: “Richard’s appointment also ensures the continuation of the strength and depth of the Kames Active Value property investment strategies which target properties in the £3 million to £20m price range, where pricing is attractive. These assets are often too big for most private buyers, but too small for many bigger fund managers.”