Friends First has extended the `open period' of its successful commercial Property Fund. The fund, which has achieved a significantly higher growth rate than the industry average, was reopened in April and offers small investors access to potentially attractive commercial property returns.

With a minimum investment of £5,000, up to a maximum of £250,000, investors can access the Property Fund through the recently launched Friends First Prospector or Capital Savings Bond. To date the fund, which has a balanced portfolio of retail, office and industrial properties, has attracted funds in excess of £15 million.

The Property Fund's growth over the last five years (to October 1st 2000) has been 20.8 per cent per annum. A recent addition to the portfolio was the stake acquired by Friends First in the Merchant's Quay Shopping Centre in Cork.

The "open period" extension is expected to last several weeks, depending on demand.