Threadneedle Investments has won a UK property mandate from the London Borough of Hounslow.
Hounslow Pension Fund has chosen to outsource its property investment management and allocated £20 million to the TPEN Property Fund, part of Threadneedle’s Pooled Pensions Funds range.
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The Hounslow Pension Fund is valued at approximately £690 million and has 18,752 members. Threadneedle’s TPEN Property Fund primarily invests in direct commercial property across the UK.
Moira Gorman, local authority client director at Threadneedle said: "Winning such a high profile mandate is testament to the strength of our offering in UK Property and the pooled pensions space. We are delighted that Hounslow has entrusted us with the management of its property portfolio following a strategic decision to manage these assets externally."
Lorelei Watson, head of treasury, Pensions and Capital at the London Borough of Hounslow, said: "We liked Threadneedle’s active approach to property management and the emphasis it puts on stock picking, risk management and income yield. Instead of chasing trophy assets, its investment experts look across sectors and regions to find properties with strong fundamentals and attractive yields. We look forward to working with the highly experienced team."
Threadneedle’s Property Investment team is headed by Don Jordison and manages £6bn in UK property assets. Threadneedle’s dedicated Pooled Pensions Funds range spans across equities, fixed income, managed solutions, cash and property.
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