Hounslow's pension fund appoints UK property managers

Office buildings1The London Borough of Hounslow Pension Fund has awarded property mandates to CBRE Global Investors and Threadneedle Investments.

The £690 million (€809.3 million) pension fund, which has 18,752 members, tendered the mandate in March and recently appointed the two managers to manage 5% of the fund’s assets, respectively.

CBRE Global Investors will invest its share into the CBRE Lionbrook Property Fund, which allocates to retail property and offices.

Lorelei Watson, head of treasury, pensions and capital, at the London Borough of Hounslow, says the fund was chosen because of its balance between high quality real estate, and a pipeline of added value asset management projects.

Threadneedle Investments will allocate its mandate to the TPEN Property Fund, which primarily invests in direct commercial property across the UK.

Watson says the fund was chosen because of its active approach to property management and the emphasis that is being put on stock picking, risk management and income yield.

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