M&G Real Estate's pan-Asian core fund is nearing US$5 billion after raising US$400 million in the past 12 months, IPE Real Assets reported, citing Ng Chiang Ling, CEO of M&G Real Estate Asia.
The executive noted that new investors in the open-ended M&G Asia Property Fund include pension funds from Germany and Canada, as well as investors from Finland and Switzerland, according to the publication.
Ng said M&G's fund in Asia delivered an average annual return of 8% over the past five years, making it attractive to European investors who are searching for yield outside Europe. She also predicts that Asia's real estate market will provide more opportunities for core assets purchases in the future, the Sept. 6 report added.
