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BVK hires global REITs manager

29 April 2014

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German pension fund BVK has appointed Principal Global Investors (PGI) to manage its global real estate investment trusts (REITs) portfolio.

PGI will manage approximately €150m for the €59bn pension fund.

BVK plans to further diversify its real estate exposure and participate in the development of global REITs by moving into exchange listed REITs.

Heiko Schuleit, PGI managing director German-speaking Europe, said: "We are very pleased to manage this global REIT portfolio for BVK, an institutional investor that is seen as a bellwether by its peers."

He added: "Clients of our REIT portfolios e.g. not only profit from our long standing real estate expertise, but can also build on our solid equity research as well as global research platform."

First published 29.04.2014