Schroder Property Multi Manager secures further GBP32m from Dyfed Pension Fund
Schroder Property Multi-Manager has secured a further GBP32m investment from Dyfed Pension Fund to take the fund up to its target eight per cent weighting to property with Schroders.
In total Schroder Property Multi-Manager will manage circa GBP130m on behalf of the fund.
Dyfed Pension Fund provides retirement benefits for employees that work for Carmarthenshire, Pembrokeshire and Ceredigion County Councils, as well as a wide range of other authorities, such as Dyfed Powys Police Authority, Mid & West Wales Fire & Rescue Service, local colleges, town and community councils and many other admission bodies.
Graeme Rutter, head of Property Multi-Manager, Schroder Property, says: “We are very pleased to be awarded further assets to manage and with the confidence implied in our ability to continue to achieve the fund's investment objectives.”
On behalf of its client the Schroder Property Multi-Manager team will invest in a range of indirect property products including exclusive funds targeting car showrooms, convenience retail stores and core style and real return strategies across UK and mainland Europe.
Anthony Parnell at Carmarthenshire County Council, as administering authority of the Dyfed Pension Fund, says: “Schroders has managed a UK and Continental European indirect property portfolio for the Fund since 2010. We are pleased to provide a further GBP32m to their property multi-manager approach to achieve our target weighting of eight per cent of the fund.”
Schroders Property Multi-Manager was launched in 1997 and manages approximately GBP2.6bn of assets (30 June 2013).
- By Category
- News from other sites
- Special Reports