Insight Investments, the London-based fund management arm of HBOS, has entered into an agreement with Grant Management, the Edinburgh-based ...

Insight Investments, the London-based fund management arm of HBOS, has entered into an agreement with Grant Management, the Edinburgh-based residential property company, to launch a £1 billion ($1.86 billion) residential property fund. The fund is expected to invest in a host of residential properties throughout the UK. Peter Grant, the chief executive of Grant Management, told the Scottish press that there is scope to convert both funds into real estate investment trusts one the UK government’s new legislation permitting such funds takes effect in January 2007. He added that Grant Management hopes to do similar deals with other fund managements, private banks and private client stockbrokers.