The Kames Capital Property Income Fund officially launches tomorrow - marking the company's first entry into the wider retail commercial property market.

The Kames Capital Property Income Fund officially launches today - marking the company's first entry into the wider retail commercial property market.

Managed by David Wise and Alex Walker, it aims to pick assets outside of the prime London markets in the £2 million ($3.3 million) to £10 million price bracket and deliver an estimated yield of 6 per cent a year.

The fund will also invest in indirect property and equities including property companies, real estate investment trusts and specialist property funds as well as cash.

“We believe the UK property market has finally turned the corner with property valuations benefiting from the recovery in the UK economy. However UK banks and other distressed property owners remain sellers meaning many buildings are still available at attractive prices," David Wise, director of property investment, said.

Kames currently has £53 billion under management and its foray into retail commercial property follows last month’s launch of its Diversified Income Fund for institutional and retail investors.