Pension schemes commit £50m to Kames property fund

Property_fundThe pension funds of Leicestershire County Council and Liverpool University have committed a combined £50 million (€56.6 million) to Kames Capital’s second value property fund.

Kames’ active value strategy targets commercial property assets with typical lot sizes between £5 million and £15 million. These are often too large for private buyers, but too small for most institutional investors.

The Kames UK Active Value Property Unit Trust II is a successor vehicle to the Kames UK Active Value Property Unit Trust, which raised £275 million from institutional investors and closed to new commitments in 2014.

Philip Bach, Kames Capital’s head of active value property, said: “We expect stock selection to be a stronger driver of performance than structural factors, so sector weightings are less relevant to performance prospects than owning the right assets in the right locations.” 

Kames Capital has £44.2 billion in assets under management.

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