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Picton Property Income Fund's profits fall amid subdued markets

Pre-tax profits for the £209m Picton Property Income Fund fell by more than 70% to £9.2m over the first half of the year amid “subdued” markets.
By James Wallace
August 31, 2011 | 12:50 P.M.

Despite the fall in profits, the closed-ended fund that was formerly the ING UK Real Estate Trust, increased its annualised rent roll to £31.3m, driven by 20 new lettings, adding £396,000; 12 lease renewals worth £389,000 and; six rent reviews, worth £40,000.

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