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Principal Global Investors wins Advance Global REIT mandate

21 Dec 2011
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Principal Global Investors (Australia) Ltd has announced that it has won a $130 million Global REITs mandate with specialist asset management business, Advance.

This mandate involves managing assets in the Advance Property Securities Multi-Blend Fund, which comprises a wide range of global property securities which are listed, or expected to be listed, on major world stock exchanges. That includes the United States, Canada, Western Europe, Asia and Australia. A diversified international asset manager, Principal Global Investors has extensive expertise in equities, fixed income and real estate.

Advance cited Principal’s significant experience in the management of both property securities portfolios and physical property markets, along with its tactical aptitude in emerging markets as key to the win. It was also impressed by Principal’s rigorous investment process which combines in-depth research with disciplined portfolio construction and risk controls.

“We are delighted to have Advance join us as a client. The mandate decision shows welcome recognition of our breadth of expertise across a range of asset classes, across a range of markets,” said Grant Forster, CEO of Principal Global Investors Australia.

“The Advance Property Securities Multi-Blend Fund is directed at investors seeking more diversity than is available through investing solely in Australian listed property securities and this kind of diversification capability falls squarely within our skill set,” he said.

Adrian Trollor, Portfolio Manager- Property Securities, Advance, said:

“The strength of Principal’s integrated global team and the flexibility of its regional portfolio managers were key factors in our decision to award this mandate. Principal has access to deep global research and the ability to incorporate quality data into the analysis of real estate securities and broader portfolio construction. We feel very satisfied that the decision is the right one in terms of the fit, the investment direction and the outcomes we are seeking for our investors.”

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