Swiss Life Asset Managers has launched an open-ended fund targeting European real estate.
The Swiss Life REF European Real Estate Living and Working vehicle will target housing, healthcare, office and retail assets.
Swiss Life insurance group is providing €200m of capital.
The fund is aimed at German private investors and it targeting returns of more than 2.5%.
The fund is supported by German fund manager CORPUS SIREO, which has been part of Swiss Life Asset Managers since 2014.
Swiss Life said the fund will invest in “B locations in A cities and A locations in B cities, an approach known as the ABBA strategy”.
Stefan Mächler, chief investment officer of the Swiss Life Group, said it was the first new fund in a series of open-ended and closed-end property products for institutional and private investors.
“We have confidence in the new fund and its investment strategy and have endowed it with starting capital of €200m,” he said.
“This emphasises our intention to expand our position in one of the most important investment markets in Europe.”
The launch follows plans to offer German-regulated real estate funds. A new German investment management firm was created late last year and the Swiss asset manager was given a KVG licence from German financial supervisory authority, BaFin.
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