SWEDEN - The SEK196bn (€21.1bn) AP3 has announced plans to invest more than SEK 2bn (€221m) in around ten real estate funds over the next four years.
The fund also announced plans to gradually increase its international real estate portfolio so that it accounted for about half of the fund's total property investments," said Bengt Hellström, AP3 head of alternative investments.
AP3 appointed Aberdeen Property Investors Indirect Investment Management to build a European real estate equity fund portfolio, and said: "The aim is, over a four-year period, to create a diversified portfolio that will generate favourable risk-adjusted returns. During this period AP3 expects to invest in excess of SEK 2bn in around ten real estate funds."
In earlier news, the AP3 announced in October it had fundamental indexing in a bid to enhance its asset management operations, with an initial SEK2bn portfolio to be managed internally using the FTSE Global Wealth Allocation (GWA) Europe Inde
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