First Property trading in line but funds under management slide

23rd Sep 2015 10:04

(ShareCast News) - First Property Group said it continues to trade well and in line with expectations, although funds under management slid.The property fund manager and investor said aggregate FUM stood at £271m on 31 August compared with £327m at its financial year end on 31 March. It attributed the reduction to the expiry in August of its fund management contract with Universities Superannuation Scheme.The company plans to release its interim results on 26 November.At 1010 BST, shares in First Property were down 5.8% at 36.26p.