Chinese pension fund grants mandate to AMP
AMP Capital will extend its relationship with one of China's largest pension funds after winning a global listed real estate mandate.
China's National Council for Social Security Fund (NCSSF) has almost RMB 1 trillion in funds under management and was one of the first institutional investors to invest offshore through external mandates, AMP said.
AMP and NCSSF established a relationship in 2001 to cooperate on prior pensions and investment schemes.
The NCSSF portfolio will be managed by AMP Capital's head of global listed real estate, Matthew Hoult, and a team spread across Sydney, Hong Kong, London and Chicago will invest in property securities listed on sharemarkets in the Americas, Europe and Asia Pacific.
"This mandate is a major milestone for AMP Capital in China and the region given the significance of NCSSF. It highlights the growing trend of Chinese offshore investing," AMP Capital's director of international business, Anthony Fasso said.
AMP Capital, managing over A$21.1 billion in global real estate, has strong ties to China and was the first Australian company to be granted a QFII license by the china Securities Regulatory Commission (CSRC) in 2006.
NCSSF was recently a guest at Citi's Executive Pension Summit and travelled the country speaking to superannuation funds about possible partnerships and co-investments.
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