Standard Life takes £220m mandate from Aberdeen
UK- Standard Life Investments has replaced Aberdeen Property AM as managers of the £2.2bn South Yorkshire pension fund’s £220m (e360m) segregated property portfolio. The portfolio comprises a mix of retail, office and industrial premises.
The majority of the South Yorkshire fund’s assets are managed in house by a team led by John Hattersley who has high praise for Standard Life’s track record. “Their style and philosophy should enable the fund to reach new highs over the coming years,” he says.
Stephen Acheson, head of UK pensions at Standard Life says: “Standard Life Investments is keen to grow substantially its third party assets under management and a key part of that is winning the trust and confidence of local authority pension funds,”
Last April Lothian pension fund appointed Standard Life to run a £136m segregated property portfolio on a discretionary basis.