FINANCE: Staffordshire Pension Fund is looking for a new manager for its £234.1m allocation to real estate.
Colliers International is the incumbent manager for the discretionary mandate, which is invested mainly in UK direct property. However, the mandate also allows for an allocation of up to 20% in European indirect property.
The property portfolio includes assets in Dover, Leeds and London and generated an annual rental income of £13.5m in the 2012-13 financial year.
The Staffordshire Pension Fund has around £3bn under management across asset classes.
sophia.furber@estatesgazette.com
