LaSalle becomes sole manager of Encore+

LaSalle Investment Management has assumed the sole responsibility for the management of Encore+, the open-ended Continental European real estate fund that has been jointly managed by Aviva Investors and LaSalle for the past 12 years.

As the existing asset manager of the fund, and also having shared joint responsibility for marketing, capital raising, client relationships and strategic business planning with Aviva since inception of the fund, LaSalle is well-equipped to take on sole management of Encore+. The transaction is expected to further streamline the fund’s internal processes and decision making. There are no changes to the terms and offerings to investors.

David Ironside has assumed the role of fund manager for Encore+ having been responsible for LaSalle’s management, strategy and acquisitions contribution to the fund for 12 years in his capacity as head of acquisitions for Continental Europe and LaSalle’s CIO for Continental Europe. Marianne Hemon-Laurens will be the deputy fund manager for the fund; she has been working on the fund for 10 years and seen the fund triple in size over this period.

Encore+’s investment strategy will remain the same and focus on improving assets and creating growth by seeking opportunities to actively manage assets to deliver superior income returns. Given the strong demand fundamentals, LaSalle believes opportunities remain to add value to assets located in markets with robust long-term trends in demographics, technology and urbanization. Over the past three months, the fund has continued to generate strong performance in both absolute and relative terms, and the historic long-term returns have consistently been at the top end of its peer group. Encore+ has been a leading fund in the IPD PEPFI in terms of performance, and it was recently announced as the best-performing fund in the Index for 2017 on both a one- and five-year basis.