01 December 2017
Reporter: Barney Dixon

Worcestershire pension fund commits £20 million to AEW fund

The Worcestershire County Council Pension Fund has committed £20 million to the AEW UK Real Return Fund, bringing the fund to a total of £86 million.

AEW has acquired two residential care homes with the fund, let to Prime Life Limited. The fund aims to get a real total return of 4 percent.

Ian Mason, portfolio manager at AEW UK Real Return Fund, commented: “We are delighted to have received this endorsement from Worcestershire County Council, which demonstrates the appeal of our innovative real estate strategy.”

“We have already put much of this additional capital to work and see a positive pipeline in a diverse range of property sectors including care homes, leisure and car showrooms, as well as the traditional sectors,” he said.

Mark Forrester, finance manager at Worcestershire County Council, added: “We have been impressed with the AEW team’s track record and performance-driven strategy in deciding where to make our allocation.”

“We have been looking to reposition the Worcestershire County Council Pension Fund into real assets and the AEW UK Real Return Fund seemed a natural fit for our investment approach.”

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