AIB Investment Managers said its European Property Stocks Fund has generated a return of nearly 39 per cent in less than a year of operation.
"Since the fund began trading on 4th April 2005, it has returned 38.57 per cent up to March 7th 2006, net of all fees and costs," AIBIM said today.
It said this compared "very favourably" with a return of 25.61 per cent from the FTSE Eurotop 100 index of European shares over the same period.
The European Property Stocks Fund invests in over 30 property funds across Europe, including Land Securities in Britain, Unibail in France and Fabege in Sweden.
Head of product management Jim Leen said: "A return of 39 per cent in less than 11 months marks a really significant achievement for the fund."
The European Property Stocks fund forms part of AIBIM's Select Portfolio range of retail funds, which are approved Irish unit trusts.