AP3 has awarded API IIM the mandate to assist the fund in building an Asian property funds portfolio. The objective is to create a well diversified portfolio over a four year period, generating a good risk adjusted return. During this period, AP3 is expected to invest approximately EUR 250 million in about 10 different funds with the assistance of API IIM.
This is API IIM’s second mandate win from AP3. In December 2006 API IIM announced it had won the mandate to create a European funds portfolio of equivalent size for AP3.
Anders Åström, Managing Director of API IIM commented:
“We are very pleased that AP3 has chosen to extend our existing agreement to Asia. This is an acknowledgement of the strong platform we have built in Asia over the past 18 months.”
“The unlisted property market in Asia is rapidly expanding with a large number of well established local and international fund managers raising new funds. By entering this market now AP3 should achieve good returns while at the same time diversifying its international property portfolio.”
Bo Ljunglöf, Director responsible for API IIM’s Asian activities, added:
“Together with our recently launched Asian fund of funds, AIPP Asia, which is expected to complete its fund raising by the second quarter of this year, this mandate win strengthens our position in the Asian property market. With more funds under management, our possibilities of sourcing attractive investments opportunities will increase further.”
End
For more information, please contact:
Anders Åström, Managing Director, Aberdeen Property Investors Indirect Investment Management
Phone: +46 8 412 80 65, mobile: +46 70 522 12 20,
E-mail: anders.astrom@aberdeenpropertyinvestors.com
Bo Ljunglöf, Director, Asian region, Aberdeen Property Investors Indirect Investment Management
Phone: +46 8 412 86 64, mobile: +46 70 274 33 55
E-mail: bo.ljunglof@aberdeenpropertyinvestors.com
Ubbe Strihagen, International Director, Aberdeen Property Investors Holding
Phone: +46 70 520 33 80
E-mail: ubbe.strihagen@aberdeenpropertyinvestors.com
Charlotte Barker / Tom Siveyer, Maitland Phone: +44 207 379 5151
About Aberdeen
Aberdeen Property Investors is the specialised property division of Aberdeen Asset Management PLC, a global investment management group listed on the London Stock Exchange and managing over EUR 110 billion of assets from offices around the world.
Aberdeen Property Investors manages some EUR 10 billion in property investments through property funds and management mandates. The company has some 500 employees at offices in ten countries. Clients are primarily institutional investors such as life and pension funds.
API IIM is a subsidiary of Aberdeen Property Investors and Europe’s leading indirect property investment manager with investment mandates exceeding EUR 2.4 billion. API IIM focuses exclusively on indirect real estate investments for institutional investors. By year-end 2006, API IIM was on the investor advisory boards of 30 different funds in Europe and Asia and had invested in excess of EUR 1.2 billion in equity.
Issued and approved by Aberdeen Asset Managers Limited, on behalf of Aberdeen Property Investors, authorised and regulated by the Financial Services Authority.