The Fund provides retirement benefits for County Council employees, but members also include neighbouring borough and district councils, universities, colleges and public authorities.
On behalf of its client the Schroder Property Multi-Manager team will invest in a combination of core and sector specialist funds across the UK. Schroders’ Property Multi-Manager business was launched in 1997 and manages approximately £2.6 billion of assets (30 June 2013). Schroders has a long relationship with local authority pension fund clients.
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Graeme Rutter, Head of Property Multi-Manager, Schroder Property commented: "We are delighted that East Sussex Pension Fund has made a further significant allocation to their property portfolio. Their actions, and those of other existing clients, suggest confidence in an improving property market and provide backing to our investment strategies and fund selection process.
"Schroders property multi-manager has delivered strong relative returns since the beginning of our mandate in 2010. Investments in Central London offices, alternative property sectors and outperforming core funds have been the main drivers of returns."
Lyndon Bolton, Client Director, Schroders commented: "We have a long and well established relationship with East Sussex County Council. We are very pleased to be working with them on this extended mandate."
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