The VOF UK I fund was launched in January 2008 and actively invests in distressed or mispriced assets in the UK Market. The Fund will target properties which through repositioning, refurbishment and strategic active management of tenants and lease terms can significantly increase the end value for investors. The preferred size of investments is between £10 million to £70 million and properties in all sectors are considered for investment. The fund targets an equity internal rate of return of 15% and has Bank of Scotland Corporate (part of the HBOS group) as a cornerstone equity investor.