REAL ESTATE - RREEF will run the real estate element of the Coca-Cola Enterprises Pension Scheme.

A total of 10% of the scheme’s assets will be invested through the RREE UK Multi-Manager Service. The contract is understood to be in the region of £30m (€44.6m).

"The mandate is to achieve a return in excess of 0.75% ahead of the HSBC-AREF Pooled Property (All Balanced) Fund Index over rolling three year periods. The majority of the portfolio will comprise a mixture of unlisted funds although there is scope to invest in European real estate and listed securities," a press release stated.

"We are delighted that Coca Cola Enterprises Pension Scheme has chosen to form a partnership with RREEF. We look forward to building a portfolio that meets their aspirations of a strong risk adjusted return and providing the level of client service enjoyed by our current clients", Bill Hughes, head of RREEF UK, was quoted as saying.

Coca Cola Enterprises operates a contributory final salary pension with currently around 3,500 members.