Aviva Investors, the global asset management business of Aviva plc (Aviva), announces the appointment of Mike Luscombe as lead manager of the Aviva Investors Property Trust (AIPT). He reports to Ben Stirling, Managing Director, European Direct Real Estate and replaces Philip Nell, who is leaving Aviva Investors in July.
Mike has 30 years' experience in real estate investment management and has been with Aviva Investors for nearly 27 years. For the past 15 years, he has managed the Aviva Linked Property Fund - Aviva's UK unit linked life and pension property fund valued at c£3bn.
Ben Stirling, Managing Director, European Direct Real Estate. said:
"We are very pleased to appoint Mike to the Aviva Investors Property Trust. He has an incredible wealth of experience in the UK real estate market and is already familiar with the fund and its assets.
"Mike is able to draw on strong resources from both asset managers across the UK real estate team and a dedicated research function. This is supported by a robust and tested investment governance process. I am confident that this places the fund in a strong position to continue to capitalise for clients on the opportunities in the UK real estate marketplace."
Aviva Investors has revised upwards its total annual return for UK commercial by 1%, forecasting a total return of 9% annually between 2015 and 2019.
Andrew Hook remains co-manager of AIPT. Andrew has 15 years' experience in real estate investment management and has been with Aviva Investors for eight years. Andrew's co-stewardship of the fund will support the smooth transition in the day-to-day management of the fund. AIPT is also supported by Michael Borello, assistant fund manager, who has recently joined the team.
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