Schroder takes in fresh capital from PMM investors

Schroder Property Multi-Manager investors have upped their allocations to property.

Schroder PMM’s largest client, East Sussex Pension Fund, has made a further investment of £24.5m. The fund, whose members include councils, colleges, universities and public authorities, has about £250m invested with Schroders.

Dyfed Pension Fund has allocated a further £32m to take its property weighting up to its 8% target with Schroders. In total, Schroders will manage £130m for the fund.

Graeme Rutter, head of property multi-manager, said the further allocations to property “suggest confidence in an improving property market and backing for our investment strategies and fund selection”.

He added that for the East Sussex fund: “Central London offices, alternative property and outperforming core funds have been the main return drivers.”

The fund’s investments are a combination of core and sector specialist UK funds. For Dyfed, Schroder PMM will invest in funds owning car showrooms and convenience retail, and core-style and real- return strategies in both the UK and Europe.