A German institutional client has awarded Asset Management鈥檚 (UBS-AM) real estate and private markets arm a 鈧�225m multi-manager mandate.
UBS-AM Real Estate & Private Markets (REPM) said the unnamed client has hired its multi-managers real estate (MM-RE) division to invest in unlisted property funds in developed real estate markets worldwide in primarily core strategies.
MM-RE, which was established in 2007, offers investors access to a global portfolio of actively managed funds and other types of indirect investments across the risk spectrum.
This latest mandate win increases total assets under management, including commitments, by the MM-RE team to over $17bn (鈧�15.2bn), the manager said.
Joerg Sihler, head of corporate clients of UBS Deutschland, said: 鈥淭his is an excellent result and illustrates the extent to which our MM-RE product has gained further traction in the German market, having attracted the attention of one of the country鈥檚 leading institutions.
鈥淭here is a growing awareness of real estate as a convincing indirect investment proposition on account of the attractive uncorrelated returns it can offer, in addition to the possible income upside in the current low interest rate environment.鈥�
Eric Byrne, head of REPM鈥檚 multi-managers business at UBS Asset Management, added: 鈥淭his significant mandate win is testament to MM-RE鈥檚 proven concept and sustained track record of performance, as well as our ability to deliver a bespoke investment solution that aligns with the needs of this specific client.
鈥淥ur investment approach is clearly recognized as a compelling route for investors to gain access to the benefits of a globally diversified institutional-quality portfolio, removing concentration risk and thereby reducing volatility.鈥�
