ING Real Estate is to launch a new fund, to be known as the Osiris Pension Fund Pooling Scheme, with a target size of ã250m. Osiris will provide UK pensions funds with access to the property market through a range of indirect property vehicles, including property unit trusts and limited partnerships.
ING claims it will appeal particularly to some of the UKââ¬â¢s smaller pension funds which historically have not been able to gain diversified exposure to the sector.
The new fund will be launched in mid-September, subject to approval from the Inland Revenue. ING is expecting to receive commitments totalling over ã40m prior to the launch.
Nick Cooper, Head of Indirect Investment at ING, said: ââ¬ÅWe have generated this product in response to market demand for property investment, and in particular a demand for indirect funds providing diversity, liquidity and a management team with a proven track record.ââ¬Â
