ING REIM launches new core open-ended strategy

ING Real Estate Investment Management Europe (ING REIM Europe) has announced the introduction of the ING REIM European Property Strategy, an open-ended core strategy investing in ING REIM Europe’s non-listed fund range.

Following the recent launch of the ING REIM European Shopping Centre Fund in March 2010, the European Property Strategy (EPS) is another expansion of ING REIM Europe's current range of real estate investment solutions.

The strategy's initial closing has been with a Swiss insurance company, investing a total amount of EUR 100 million through several of its country subsidiaries.

EPS is tailored to institutional investors and offers a catered solution for European insurance companies, providing them access to ING REIM Europe's 14 non-listed property funds, a highly diversified property portfolio with total assets under management of more than EUR 18 bn.

ING REIM said EPS will appeal to institutional investors seeking direct exposure, diversification out of their domestic real estate markets and requiring a regulated environment in an open-end product.

Wim Wensing has been appointed as fund manager and Tjeerd Jansen as portfolio manager.

Wensing commented: 'We see that investors increasingly look toward diversifying their real estate portfolios and seeking exposure to pan-European properties. The initial closing of our European Property Strategy showcases our ability to offer such a product and meet the specific needs of our investors.

'Through EPS we provide investors an entry to one of the largest European non-listed portfolios. They will benefit from maximum diversification and from ING REIM Europe’s local expertise.'