UK - Shropshire County Council pension fund has awarded a £46m pan European Property contract to Arlington Property Investors.
The £920m fund previously had 5% of its portfolio invested in UK property with KBC.
“We previously only had UK property in our portfolio and re-tendered for pan European property for additional diversification in the property portfolio,” said Shropshire County Council's head of finance, Graham Chidlow.
Richard Gale, director of indirect fund management at Arlington, added: “An increasing number of pension funds are investing in property outside their home markets as they seek out the higher returns and diversification that it can bring.”
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