NORWAY - Aberdeen Property Investors has launched its second property fund in Norway consisting of an actively managed portfolio diversified across property, regions and tenant categories.
The launch of AP1 Eindomsfond Norge II ASA follows the first fund launch in 2004.
“There has been so much demand for our first property fund, with more than e600m raised, that we have decided to launch a new fund,” said Espen Klevmark, managing director, Aberdeen Property Investors Norway.
The new fund will be managed as a discretionary fund and will be built up using Aberdeen’s local expertise in the Norwegian property market. The target return for the fund is above 12 % per year after taxes and charges.
The fund, which will have its first closing 11 November, will provide an expected annual payout of 5-9 %.
“Property in Norway is expected to show a continuously high total return, in comparison with Europe,” said Ubbe Strihagen, director Aberdeen Property Investors. “A well diversified property fund could therefore be an attractive alternative to investors in the future, along with stocks and bonds.”
In addition to the Norwegian funds, Aberdeen manages several other property funds in Finland, Denmark, Sweden and Europe.
Some of the UK's biggest pension schemes will be forced to report on climate risk in line with recommendations from the Taskforce for Climate-related Financial Disclosures (TCFD).
TPT Retirement Solutions has launched a pension scheme for the education sector which offers schools both defined contribution (DC) and defined benefit (DB) pension provision.
The People's Pension has revealed plans to overhaul its charging structure, cutting fees and returning profits to members with an aim to help people save more money for retirement.
Data consultancy ITM has appointed Akash Rooprai as head of client management to lead its de-risking business.