AIB British property fund 'worth nothing'
A highly geared British property fund marketed by AIB to its private wealth clients has begun to dispose of the properties in its portfolio.
A highly geared British property fund marketed by AIB to its private wealth clients has begun to dispose of the properties in its portfolio, telling its investors that their investment is now worth nothing.
The Fifth Belfry Properties (UK), the company that manages AIB's fifth of six Belfry property funds, began attracting investment in 2005 and raised a total of £66.5 million (€79.33m). That investment, allied to loans that now stands at £178 ...
