Colonial First State has awarded a $168 million mandate to the UBS Asset Management property securities team.
UBS Asset Management portfolio manager David Scott and analyst Pat Barrett have been selected to manage $168 million on behalf of Colonial First State.
The mandate is a major win for UBS Asset Management's AREIT team, adding to the $412 million the pair already manage on behalf of clients.
Mr Scott and Mr Barrett have 56 years of combined experience and have been working together for 15 years.
UBS Asset Management chief executive Bryce Doherty said, "We are excited to be partnering with Colonial First State again through our highly experienced AREIT team of Dave and Pat.
"The UBS AREIT strategy continues to play an important role in client portfolios, given the reliable income and solid growth the Australian property sector has to offer."
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