Aviva Investors has maintained its position as the UK’s biggest property manager, according to data compiled by Property Funds Research for Estates Gazette.
The firm, which has topped the survey every year since 2009, had £29.1bn in property under management, up by 58% from 2014 – the latest year for which data is available.
The 57 fund managers surveyed held a total £242bn in property assets, 63% of which was owned by the 10 biggest companies.
Among the top 10, CBRE GI saw the biggest jump in AUM with an 84% rise from £8.6bn to £15.8bn. It moved from the seventh- to the fourth-largest manager in the UK.
* 2014: TIAA Henderson Real Estate (Henderson Global Investors merged with TIAA-CREF to create TIAA Henderson Real Estate) ** 2014: Threadneedle Property Investments
It also made a considerable advance in the value of its advisory, or non-discetionary mandates, which totalled £2.6bn last year – up from £1.7bn. Having moved up from fifth place, CBRE GI was second only to TH Real Estate in the size of its separate account mandates.
Michael Ness, head of UK at CBRE GI, said the firm’s advisory business had grown because of its expanding overseas investor base. He said: “We see this trend continuing, as despite uncertainties, UK real estate is in demand from overseas investors.”
Assets under Management (AUM) refers to market value of real estate-related assets with respect to which your company provides, on a global basis, oversight, investment management services and other advice (for third-party capital and internal client capital), and which generally consist of real estate funds and real estate-related loans; securities portfolios; and investments in operating companies, joint ventures, separate accounts and funds of funds.
Aviva Investors has maintained its position as the UK’s biggest property manager, according to data compiled by Property Funds Research for Estates Gazette.
The firm, which has topped the survey every year since 2009, had £29.1bn in property under management, up by 58% from 2014 – the latest year for which data is available.
The 57 fund managers surveyed held a total £242bn in property assets, 63% of which was owned by the 10 biggest companies.
Among the top 10, CBRE GI saw the biggest jump in AUM with an 84% rise from £8.6bn to £15.8bn. It moved from the seventh- to the fourth-largest manager in the UK.
* 2014: TIAA Henderson Real Estate (Henderson Global Investors merged with TIAA-CREF to create TIAA Henderson Real Estate) ** 2014: Threadneedle Property Investments
It also made a considerable advance in the value of its advisory, or non-discetionary mandates, which totalled £2.6bn last year – up from £1.7bn. Having moved up from fifth place, CBRE GI was second only to TH Real Estate in the size of its separate account mandates.
Michael Ness, head of UK at CBRE GI, said the firm’s advisory business had grown because of its expanding overseas investor base. He said: “We see this trend continuing, as despite uncertainties, UK real estate is in demand from overseas investors.”
Assets under Management (AUM) refers to market value of real estate-related assets with respect to which your company provides, on a global basis, oversight, investment management services and other advice (for third-party capital and internal client capital), and which generally consist of real estate funds and real estate-related loans; securities portfolios; and investments in operating companies, joint ventures, separate accounts and funds of funds.
Top 10 managers (2016) RE AUM 2005-2016
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Top 10 managers (2016): % change 2014-2016
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The figures in full
Top 40 managers by total value of UK assets under management
Rank 2016
Rank 2014
Company
RE AUM £m 2016
% change
–
1
1
Aviva Investors Global Services
29,078
58%
–
2
2
M&G Investments (Property arm M&G Real Estate)
21,673
29%
–
3
3
Legal & General Property
17,740
25%
▲
4
7
CBRE Global Investors
15,800
84%
–
5
5
Standard Life Investments
15,505
49%
▲
6
8
TH Real Estate
12,585
49%
▼
7
4
LaSalle Investment Management
11,950
13%
▼
8
6
Aberdeen Asset Management
10,609
6%
▲
9
10
Columbia Threadneedle Property Investments
9,000
18%
▼
10
9
Schroder Property Investment Management
7,828
1%
–
11
11
Hermes Real Estate Investment Management
7,078
27%
▲
12
17
Patron Capital Advisors
6,275
54%
▲
13
15
Deutsche Asset & Wealth Management
6,039
46%
▲
14
19
Royal London Asset Management
6,008
79%
▲
15
16
Orchard Street Investment Management
5,491
34%
▼
16
14
DTZ Investment Management
5,063
14%
▼
17
12
BMO Real Estate Partners*
4,490
-14%
NEW
18
–
Deka Immobilien
3,992
–
▼
19
18
BlackRock
3,900
8%
–
20
20
Savills Investment Management*
3,835
55%
NEW
21
–
ICG-Longbow
3,111
–
▲
22
23
UNITE Integrated Solutions
2,907
47%
NEW
23
–
Ares Management
2,690
–
▼
24
21
Rockspring Property Investment Managers
2,620
8%
NEW
25
–
UBS Asset Management
2,539
–
NEW
26
–
Prologis
2,407
–
▼
27
24
Hines
1,925
0%
▼
28
25
Lothbury Investment Management
1,862
28%
▲
29
33
AEW
1,659
112%
NEW
30
–
Cheyne Capital
1,528
–
▼
31
29
DRC Capital
1,411
67%
NEW
32
–
Knight Frank Investment Management
1,384
–
▼
33
27
Grosvenor Fund Management
1,350
8%
NEW
34
–
Tishman Speyer
1,162
–
▼
35
28
Invesco Real Estate
1,152
-8%
–
36
36
Mayfair Capital Investment Management
938
63%
▲
37
38
Clearbell Fund Management
931
74%
▼
38
35
Colliers Capital
809
39%
▲
39
42
InfraRed Capital Partners
796
77%
NEW
40
–
Angelo Gordon
672
–
Advisory non-discretionary UK mandates by value of AUM
Rank 2016
Rank 2014
Company
Total value of advisory mandates 2016 £m
Total number of advisory mandates 2016
▲
1
6
TH Real Estate
4,540
14
▲
2
4
CBRE Global Investors
2,600
7
–
3
3
Aberdeen Asset Management
2,179.40
6
▲
4
7
LaSalle Investment Management
2,085
13
▼
5
1
BMO Real Estate Partners
1,790
21
▼
6
5
Deutsche Asset & Wealth Management
1,780
5
▲
7
22
Savills Investment Management
1,517
4
NEW
8
–
AEW
942
3
▲
9
10
DTZ Investment Management
792
2
▼
10
9
Hines
703
5
NEW
11
–
Knight Frank Investment Management
559
4
NEW
12
–
UBS Asset Management
523
3
▲
13
18
Invesco Real Estate
517
2
▼
14
13
Cluttons
500
4
NEW
15
–
Standard Life Investments
468
1
NEW
16
–
Mayfair Capital Investment Management
448
2
▼
17
16
BNP Paribas Real Estate Investment Management
436
5
▼
18
17
Colliers Capital
330
1
NEW
19
–
Rockspring Property Investment Managers
266
1
NEW
20
–
IO Asset Management
130
3
Segregated account mandates by UK AUM
Rank 2016
Rank 2014
Company
Value of discretionary mandates 2016 £m
Number of separate accounts 2016
▲
1
2
Aviva Investors
18,538
38
▼
2
1
M&G Real Estate
13,248
11
▲
3
4
CBRE Global Investors
10,900
115
▼
4
3
LaSalle Investment Management
9,409
34
▲
5
12
Royal London Asset Management
5,615
6
▲
6
10
Legal & General Property
4,876
6
–
7
7
Hermes Real Estate Investment Management
4,757
2
▲
8
9
DTZ Investment Management
4,271
8
▼
9
5
Aberdeen Asset Management
3,567
14
▲
10
13
Schroder Property Investment Management
3,008
26
▲
11
14
Standard Life Investments
2,987
9
▼
12
11
Columbia Threadneedle Property Investments
2,800
3
NEW
13
–
ICG-Longbow
1,179
7
▲
14
17
BMO Real Estate Partners
768
2
NEW
15
–
Knight Frank Investment Management
741
2
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