ACCESS, which pools funds from 11 local government pension schemes, has appointed Aviva Investors to manage a £250m long-lease property mandate following a review.
The mandate will be managed by Aviva Investors on behalf of the Lime Property Fund which targets cross-sector property investments around the UK that can provide inflation-linked or fixed rental uplifts, let to tenants on leases of over 15 years.
Cllr Mark Kemp-Gee, Chairman of the ACCESS Joint Committee, said, “We are pleased to report this appointment and the further establishment of the Alternatives offering to the ACCESS Authorities. This further demonstrates our responsiveness to the needs and ambitions of partner LGPS funds. The demand for alternative income from our partners is likely to increase considering the current environment, so this is an important addition to the ACCESS Pool’s suite of alternative funds.”
Jill Barber, Chief Distribution Officer at Aviva Investors, said: “We are delighted and honoured to partner with ACCESS and for the Lime Property Fund to have been selected by the Pool to manage its real estate long income mandate. In the twenty years since its inception, Lime has built an enviable track record in delivering low-volatility, inflation-linked returns. We believe this makes it an excellent fit for ACCESS, with assets such as long lease real estate having a key role to play in portfolios. I look forward to developing our relationship with the ACCESS partner funds and helping them to deliver long-term investment outcomes on behalf of their members.
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