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AMP Capital wins global REIT mandate from China’s social security fund

20 Jul 2012
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AMP Capital has been selected to manage a significant 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).

As one of the pioneers of the global real estate sector in the Asia Pacific region with more than 50 years’ experience, AMP Capital manages over A$21.2 billion in global real estate.

AMP Capital Director International Business Anthony Fasso said: “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.

“NCSSF is one of the largest institutional investors in China with almost RMB 1 trillion in funds undermanagement. It was one of the first Chinese institutional investors to invest offshore through external mandates and investment managers.

“AMP Capital has built strong ties with NCSSF since its establishment in 2001. Both entities have cooperated 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,” Mr Fasso said.

The NCSSF portfolio will be invested in property securities listed on sharemarkets in the Americas, Europe and Asia Pacific. The portfolio will be managed by AMP Capital’s Head of Global Listed Real Estate Matthew Hoult and his team of listed real estate investment professionals located in Sydney, HongKong, London and Chicago.

China is a key strategic market for AMP and AMP Capital, having established the group’s representative office in Beijing in 1997.

In 2009, AMP Limited was the first foreign financial institution to sign a Memorandum of Understanding for Strategic Cooperation with China Life Insurance (Group) Company, the largest insurance group in China and the world’s largest listed life insurance company.

In addition, AMP Capital was the first Australian company to be granted a QFII licence by the China Securities Regulatory Commission (CSRC) in 2006. It secured its first quota of US$200 million in 2006, followed by a second quota of an additional US$100 million in 2008.

20 July 2012

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