The pension scheme of the UK's leading drugstore Boots has appointed asset manager Schroders' property multi-manager team to manage a £135 million portfolio.

The scheme is seeking a diversified exposure to the UK property market through investing in selected core, value-added and opportunistic property funds.

Graeme Rutter, co-head of property multi-manager at Schroders commented:"We are really pleased to have been selected by one of the leading UK corporate pension schemes to manage their property account. Our scale has given us the ability to offer portfolio solutions and access manager talent in a way that is impossible for smaller advisors."

The asset manager's head of property, William Hill, said: "The multi-manager area is a very important part of our property business at Schroders and one where we have had a considerable amount of success. The industry is at an interesting stage in its development and we look forward to working with clients such as Boots in exploiting the opportunities ahead."

Schroders' property multi-manager business currently manages approximately £2.5bn of assets. The firm's total assets under management per 31 March 2012 are estimated to be £199.6bn.

First published 25.06.2012

azeevalkink@wilmington.co.uk