Pension funds invest in UK property

Giovanni Legorano Global Pensions 09.02.2010 08:56

GLOBAL – Pension funds have been returning to the UK property market in the wake of improving returns after the asset class lost almost half of its value in two years, industry figures said.

According to data released by Association of Real Estate Funds (AREF) UK unlisted pooled property funds raised £3.2bn (US$5bn) of new money in the last quarter of 2009, which represents the highest value 1998.

AREF chief executive John Cartwright said: "This marks the second quarter of positive net sales, signaling the resurgence in popularity for property funds. Interestingly, whilst retail investors remain extremely active, we have also seen significant new money from institutional investors who tend to have longer term investment horizons."

Foreign pension funds and other institutional investors make up the largest part of inflows into UK property.

Aviva Investors Client Portfolio Manager for Real Estate Phil Ellis said in the last five to six years there has been a growing globalization of property markets with non-UK pension funds increasingly looking at UK property.

Source

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