UPDATED: A$500m mandate awarded
A A$500 million ($440 million) mandate targeting real estate securities will be launched by Heitman on behalf of Australia-based Advance Asset Management.
The long-only mandate invests in a concentrated portfolio of Asia Pacific, North American and European real estate securities investing in up to 25 percent of the FTSE EPRA/NAREIT Developed Index, currently less than 80 stocks. The strategy offers investors an actively managed portfolio.
Heitman invests in private real estate equity, with assets under management of more than $31 billion, split between public real estate securities and direct real estate.