Australian wealth manager Colonial First State (CFS) has given Deutsche Asset Management A$385m (€245.2m) to invest in global real estate securities.

Deutsche AM said it was awarded that mandate due to its capability in the asset class and approach to identifying the fundamentals driving performance within a portfolio.

The mandate will be managed by Deutsche AM’s global real estate securities team. The team of 19 investment professionals, will be led John Vojticek, the head of Liquid Real Assets in Chicago.

Chris Robinson, the head of Deutsche AM in Australia and head of real estate securities in Asia Pacific, said: “This is a great achievement for our real estate securities business recognising our deep history of delivering strong, stable outperformance and unique investment approach.

“We look forward to working closely with the team at Colonial First State on this strategy.”