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Private property group Dawnay Day called in the administrators last week, leading to panic at three Aim property funds - Sirius, Treveria and Carpathian - which share its name.
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Despite announcements asserting their financial and legal independence, heavy share price falls were exacerbated when Dawnay Day's founders sold their stakes. Activist investor Laxey has since acquired 8 per cent of Sirius, the German property fund.
For fans of Eastern European property, Carpathian offers a near 20 per cent yield at its current price of 41p, making its shares good value.
Last IC view: Good Value, 34p, 14 Jul 2008.
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