21st Dec 2015 14:37
LONDON (Alliance News) - Aberdeen Asset Management PLC on Monday said it has been awarded a EUR1.3 billion mandate by the commercial pension Danish fund Danica Pension.
From February, the FTSE 100 asset manager will manage Danica Pension's portfolio of 107 residential and commercial properties in Denmark.
Danica Pension is part of the Danske Bank group, and is one of the largest property owners in Denmark with a portfolio of EUR3.3 billion.
Aberdeen will also be managing about EUR5 million of property development projects once they are completed.
"The aim will be to optimise the value of the property portfolio through active management, while the current property administrator will continue to be responsible for letting and administration," Aberdeen said.
The mandate will mean Aberdeen will be managing properties in Denmark of a total of EUR3.1 billion.
Shares in Aberdeen were down 0.2% at 286.70 pence on Monday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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