Coca-Cola’s pension scheme is switching its property mandate to Kames Capital’s new indirect property management team. The fund awarded a £32m portfolio to the team of Mark Bunney, Matt Day and Tony Yu. CBRE Global Multi-Manager previously held the mandate.
In April, Kames’ indirect team won its first discretionary mandate, the Kelda Group Pension Plan’s £85m portfolio, from Aviva Investors. Kames set up its indirect business last year after its team left ING Select in the belief that the market would welcome more competition. AON Hewitt advised Coca-Cola’s pension scheme.