Invesco offers direct global fund to DC pension plans
In the first move of its kind, the Invesco Global Real Estate Fund (GREF) has been made available to UK defined contribution (DC) pension schemes.
The decision to open the fund to DC schemes marks a new era of direct investment into the global commercial property market for the UK, which has steadily moved away from a defined benefit pensions model to a DC-dominated one in the past 20 years. Prior to this, DC investors were limited to investing solely in UK direct property funds.
Invesco Real Estate has worked with a large UK DC pension scheme, which was advised by consultancy Lane, Clark & Peacock (LCP), to bring about the development. A number of major UK DC pension schemes have already made a significant initial investment in GREF as part of their default strategy for members through the platforms.
“Opening a broader spectrum of investments