Aberdeen Standard and Dutch pension fund launch European housing fund

Dutch pension fund Pensioenfonds Metaal en Techniek (PMT) gave its fiduciary manager MN permission to commit €150 million ($180 million) to cornerstone the launch of the Aberdeen Standard Pan European Residential Property Fund, the first open-ended core property fund

The fund focuses exclusively on residential property in Western Europe. The strategy of the to be launched Aberdeen Standard Pan European Residential Property Fund is based on the global trend of urbanization. The fund will focus exclusively on Western Europe, including Scandinavia. The target size of the fund is more than €1.5 billion ($1.8 billion).

Aberdeen Standard Investments, MN and PMT jointly developed a fund strategy for investing in European residential assets that stand to benefit from the strong supply-demand fundamentals in Europe’s leading cities driven by demographic trends and urbanization. The fund anticipates a high occupancy rate, will utilize low levels of leverage and have a stro