Member Article

RLAM increases property assets with transfer of Co-op’s property portfolio

Royal London Asset Management has reported its property assets have increased by almost 50% as a result of the transfer of The Co-operative Asset Management’s (TCAM) £1.6 billion property portfolio.

The property portfolio was transferred from from AXA Real Estate to RLAM’s in-house property team on 28 November 2014.

The transfer has increased the total amount of assets managed by the team from £3.4 billion to more than £5 billion.

Overall, the £5 billion includes property-related assets in the life and pension funds managed by RLAM, as well as the Royal London Property Fund (RLPF), which was the first existing fund to convert to the Property Authorised Investment Fund (PAIF) structure in 2010.

In July 2013, Royal London acquired the Co-operative Insurance Society and the Co-operative Asset Management Company Limited (TCAM).

The acquisition brings RLAM’s funds under management from £78.4 billion (as at 30 September 2014) to £80 billion.

Gareth Dickinson, Head of Property at RLAM, said: “I am absolutely delighted to welcome our new colleagues at a time when funds under management have just exceeded £5 billion. This expansion has strengthened our sector specialisms with dedicated and expanded Retail, Office and Development Management teams.”

This was posted in Bdaily's Members' News section by Ellen Forster .