UK - ING Real Estate Investment Management is targeting pension funds with a new property fund of funds.

The Osiris Pension Fund Pooling Scheme will launch in mid-September and has target size of 250 million pounds (359.6 million euros).

ING says it will provide pension funds with access to the real estate market “through a carefully constructed range of indirect property vehicles including property unit trusts and limited partnerships”.

ING said commitments totalling over 40 million pounds are expected to the fund prior to launch.

The minimum holding in the fund is 100,000 pounds and redemption is monthly on three months notice. The fund's performance objective is in line with the HSBC/APUT Pooled Fund Index.

“We have generated this product in response to market demand for property investment – and, in particular, a demand for indirect funds providing diversity, liquidity and a management team with a proven track record,” said Nick Cooper, head of indirect investment.

ING REIM is the world's third largest real estate asset manager with 40 billion euros in property assets under management.