The Davy Irish Property Fund has won the IPD European Property Investment Award after being judged the best performing fund in the Irish market.

The fund achieved the highest balanced total return relative to the IPD benchmark annualised over three years up to December 2015. The fund had a three -year direct return of 26.94 per cent a year, outperforming the benchmark by 2.22 per cent a year.

Irish Property Databank (IPD) calculates the institutional fund benchmark for the Irish commercial property market and its constituent funds including Irish Life Property Fund, IPUT, Friends First, Aviva Irish Property Fund and New Ireland Property Fund.

The award recognises a number of asset management initiatives and investments made by Davy Real Estate over the 2014/2015 period. The company manages in excess of €1.18 billion in real estate assets through both regulated and unregulated structures and since July 2012, has acquired additional properties valued at over €589 million.