TKP invests EUR 52 mln in Standard Life's retail fund

Insurer Aegon's subsidiary TKP Pensioen announced it has invested EUR 52 mln in Standard Life's EUR 2.8 bn UK shopping mall fund, therefore becoming the first overseas investor in the retail fund. TKP's head of real estate Robert-Jan Tel said that the Netherlands-based pension group is willing to further invest in this market segment.

'We absolutely believe in this category,' he said. 'It's doing pretty well in the portfolio. The forecasts are for performance that isn't as strong as it has been in the past few years, but it's still pretty strong –with good, stable returns.' Tel said TKP would target 'a little bit more' than its current allocation in the British retail market after this investment, which accounts for about 10% of its real estate portfolio, pension magazine IPE reported.