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LATEST NEWS & EVENTS First Property launches opportunity fund  First Property Group has today announced that its primary subsidiary, First Property Asset Management Limited has established a new opportunity fund, entitled Fprop Opportunities (FOP) which will focus on securing licensed property across Europe. £7 million has been invested in FOP by the First Property Group and the company intends to launch its new business immediately, in the hope of raising money in the region of £100 million from third party investors. The fund will be targeting property investments which it estimates should earn a rate of return on equity, as well as an internal rate of return of at least 15 per cent per annum. Ben Habib, chief executive of First Property Group, said: "The launch of FOP represents a major step for the group as we believe the current economic climate is ripe to exploit the buying opportunities we are seeing." Last week, JP Morgan Asset Management revealed that property investment advice may be wanted by more institutional investors over the next two to three years, with a survey indicating that returns from commercial property are set to improve. Posted by Gaby Hamerton 
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