Aviva Investors appointed for ‘holistic’ global real estate mandate by SPMS
Aviva Investors has been appointed by Stichting Pensioenfonds Medisch Specialisten (SPMS) to manage EUR200m of additional assets in a holistic global real estate mandate.
This brings the total assets managed to over EUR550m.
SPMS is the Dutch Medical Specialist Pension Fund and an obligatory sector scheme responsible for the retirement provision of independent medical specialists in the Netherlands. With around 15,000 scheme members and more than EUR7bn of assets under management in defined benefit schemes, it is a top 20 pension fund in the Netherlands.
For the past two years, the unlisted global indirect real estate portfolio has been managed by the Aviva Investors Real Estate Multi Manager (REMM) team, but is being expanded to a holistic real estate mandate, offering the freedom to invest in listed or unlisted real estate or cash. The mandate will be managed by the Aviva Investors REMM and REIT teams and governed by the real estate solutions group, which oversees all strategies that combine the various real estate segments of direct properties, indirect investments (listed and unlisted), infrastructure, real estate debt and synthetics.
Ian Womack, chief executive, real estate at Aviva Investors, says: “We are very pleased to be able to extend our mandate with SPMS and are proud to be able to continue our work with such a long-standing and prestigious pension fund. It is clear that pension funds are increasingly looking towards innovative real estate approaches within their portfolios and we see this increase in the size of our mandate as a strong example of this evolving trend."
Jeroen Steenvoorden at SPMS says: “We believe the holistic solution will add flexibility in implementing and maintaining our worldwide real estate strategy. We also anticipate enhancing our returns in periods when a specific real estate category is under or overvalued.”
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