AMP Capital has been selected to manage a global listed-real-estate mandate for one of the largest public pension funds in the world, China’s National Council for Social Security Fund (NCSSF).
China is a key strategic market for AMP and AMP Capital, having established the group’s representative office in Beijing in 1997.
“We are very pleased to be awarded this mandate from the National Council for Social Security Fund, which is evidence of our leadership in the global listed-real-estate sector,” said AMP Capital director of international business, Anthony Fasso.
“NCSSF is one of the largest institutional investors in China with almost RMB 1 trillion (A$151 billion) in funds under management. It was one of the first Chinese institutional investors to invest offshore through external mandates and investment managers.
Questioned on the size of the mandate, an AMP spokesperson said NCSSF requires all managers to keep this information confidential.
“AMP Capital has built strong ties with NCSSF since its establishment in 2001. Both entities have co-operated in multiple areas of mutual interest including pension and investments.
“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,” said Fasso.
The NCSSF portfolio will invest in property securities listed on share markets in the Americas, Europe and the Asia-Pacific region.
AMP Capital’s head of global listed real estate, Matthew Hoult, and his team located in Sydney, Hong Kong, London and Chicago, will manage the portfolio.