Unilever's pension fund Progress is investing EUR 35 mln in the Aberdeen European Balanced Property Fund. The move follows the pension fund's decision last year to switch from direct to indirect investment in real estate.
Unilever's pension fund Progress is investing EUR 35 mln in the Aberdeen European Balanced Property Fund. The move follows the pension fund's decision last year to switch from direct to indirect investment in real estate.
The pension fund's strategy is to invest in a pool of 'best-in-class’ real estate funds managed by market leaders with proven track records, Aberdeen Asset Management said.
Aberdeen European Balanced Property Fund was launched in 2006 and currently manages EUR 302 mln of equity from institutional investors. The European real estate portfolio is valued at EUR 352 mln.
