Asian institutions have made their first overseas real estate investment by backing the Schroder UK Property Fund (SPF).
Asian institutions have made their first overseas real estate investment by backing the Schroder UK Property Fund (SPF).
Two large insurance companies invested £40 mln (€49 mln) in SPF after a six-month due diligence process.
The fund converted into a Property Authorised Investment Fund, or PAIF, during the summer of 2012.
James Lass, SPF fund manager, commented: 'They had previously had a domestic real estate holding in Asia but decided to increase their exposure to the asset class and diversify outside of their home market. We agree with them that the UK property market is a safe haven for international as well as domestic investors.'
SPF is Schroders' flagship property fund. It provides investors with diversified exposure to over £1.4 bn of UK commercial property. The fund has outperformed its benchmark over one and three years* and is available to UK domestic and international professional investors.
