property pension funds.

Property funds invest in commercial property such as offices, shops and warehouses — directly, or through listed property companies. They can be slower to sell in difficult markets, and some can delay withdrawals for a time.

funds

16

providers

8

typical risk

3–6/7

middle 5-yr return

−0.2% a year

Of the 15 property pension funds with a five-year record, the highest average yearly return was +2.8% (Royal London BlackRock Developed Real Estate Index Fund, Royal London) and the lowest −3.7% (Zurich Life Indexed European Ex UK Property, Zurich Life). 1 fund is under five years old and listed after, by 3-year return.