Schroders has created a new global property securities (GPS) team to manage more than £1.2 billion of assets under management.
The newly established GPS team will report to Neil Turner, head of indirect property investment, and will work closely with Schroders’ existing GPS specialists based in Asia and the US.
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The team includes Tom Walker and Hugo Machin who have joined from AMP Capital, where they served as deputy head of global listed real estate and head of European listed real estate respectively. Machin will join Schroders on 7 July 2014.
Also, Ben Forster will join the firm as a fund analyst from the Schroder property multi-manager team where he has worked for seven years, while another fund analyst will also join the team in August.
Effective 15 August 2014, the new team will take over investment management of the Schroder Global Property Securities Fund, the Schroder Global Property Income Maximiser Fund and Schroder ISF Global Property Securities from EII Capital Management.
However, EII Capital Management will continue to manage a number of other existing segregated client mandates on behalf of Schroders.
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By GlobalDataAdditionally, Schroders has been named as manager of the listed trust ‘Investors in Global Real Estate’.
Subject to shareholder approval, the trust will be renamed as ‘Schroder Global Real Estate Securities Limited’.
Duncan Owen, head of Schroder property, said: "Investors increasingly understand the benefits of diversification and increased liquidity that can be gained by including global property securities within their property allocation."
