More than 60 investors and potential investors attended the Pigeon East of England Property LP Annual General Meeting in Newmarket.
Investors in property from around East Anglia received the views of well-respected wealth management expert Mark Kary from Rothschild and a comprehensive update from Pigeon on the Property Fund performance.
Pigeon Chairman James Buxton welcomed delegates to the AGM and provided an overview of the Pigeon Property Fund and a round up of progress and activity during the last year. He emphasised to the audience that East Anglia is in a strong position for selective property investment and that, with imagination and innovation, there are opportunities to grasp.
Mark Kary gave an overview on the challenges of preserving and growing the real value of wealth and a summary of the current investment environment, including property. He said: “In relation to other forms of investment, selective property investment in strong economic regions such as East Anglia should be considered. This type of investment should be looked at more now than has historically been the case, but I would emphasise that property investment must be placed with people who are reliable. Investors need to have a properly diverse portfolio including a consideration of property, which may well play a role in the challenges of asset allocation.”
Pigeon Property LP Investment Manager, William van Cutsem reported in detail on the Fund. He stated that the investment strategy is to provide a reliable 5 to 6% rate of income in addition to capital growth, delivering total returns of 12% per annum. Property can offer a stable income and a hedge against inflation compared with more volatile asset classes. He summarised by saying that over the last period Pigeon has been very selective on bidding on property but that there are currently a number of properties under detailed due diligence.
The Pigeon East of England Property LP was created to provide institutional and private investors with the opportunity to benefit from current market conditions through a combination of real estate income and capital growth.