The $12 billion government superannuation fund, Funds SA has increased its allocation to global unlisted property, topping up its mandate with the Russell Investment Group (Russell).
Funds SA now has $112 million invested in the Russell Global Property Fund 1 (GPF 1). The GPF 1 invests in eight funds located across regions, countries and property sectors.
"The fund is tailored for Australian superannuation funds, allowing investors to complement their traditional income property exposure with higher growth property investments," GPF 1 portfolio manger Ed Garcia said.
The investment will be part of Fund SA's alternative assets portfolio.
"We have worked well with Russell for three years now. We are impressed by the managers they have accessed for us and the portfolio they have constructed," Funds SA chief executive Richard Smith said.
