Fidelity Investment Managers expands its UK real estate portfolio

In a bid to expand its UK commercial property portfolio, Fidelity Investment Managers purchased a number of commercial property sites. The firm said it had increased its UK commercial realty offering through the acquisition of several properties. It is understood the firm spent an estimated 85 million pounds on a range of investments. Most of the investments are found in the Midlands.

This comes in the wake of a strategy that is geared at bolstering Fidelity Investment Managers’ offering as it places itself at a better placing for increased growth. In the fresh commercial realty investments, the firm purchased the Hercules Portfolio that is made up of three industrial and three office units found across the region. For this investment, Fidelity paid an estimated 22.7 million pounds for the acquisitions.

Its other investment went into the purchase of the 200 Berkshire Place in Reading for about 20.1 million pounds and its acquisition of the Hamilton Palace Towers in Scotland. Another addition to Fidelity’s assets is the Bournemouth based Holland House, forming the firm’s larger business property portfolio. Fidelity Investment Managers recently undertook several appointments to its property team, terming the move as a critical step towards the sustenance of the firm’s commitment to delivery of robust investment performance and maintaining quality client service.

Fidelity currently has over 660,000 customers in the UK and manages assets worth 126.3 billion pounds. Fidelity Investment Managers is a British investment management fund that specializes in ISAs and SIPPs. Fidelity Investment Managers reiterated that the firm is interested in diversification and purchase of high quality commercial property that will bring stable income.

In that regard, the strategy has been followed by the firm for the past four years and proved to be efficient as Fidelity customers enjoyed strong performance. Fidelity Investment Managers (Fidelity) provides asset management services across Europe, the Middle East, Africa and the Asia-Pacific region, with over 4,000 members of staff operating across the globe.

Its US based affiliate, Fidelity Management and Research (FMR), serves the Americas region and is one of the USA's largest mutual fund companies. Fidelity maintains close links with Fidelity Management Research and the two firms draw on each other's extensive research capabilities, giving their portfolio managers access to detailed up-to-date analysis on companies that make up 95% of global market capitalization.

30 Sep 2010.