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Presima wins MLC mandate
Global listed real estate boutique fund manager Presima will manage a portion of MLC's global property securities strategy after being awarded a "significant mandate", MLC has announced.
The strategy is included in several MLC funds, which have more than $27.2 billion in funds under management.
MLC chief investment officer, Jonathan Armitage said the boutique fund manager's track record of delivering above benchmark returns over the past five years when other property managers had lagged supported its research and decision to appoint Presima.
Its investment approach complimented other managers it had in its global property security strategy, according to Armitage.
Newly appointed Presima chief executive, Peter Zabierek said the mandate was testament to the quality of its team and robustness of investment process.
"This is one of a number of opportunities we currently have in the pipeline and is further evidence of our credentials as a proven global REIT manager," he said.
National Australia Bank's direct asset management business purchased Canadian-based fund manager, Presima in April 2010.
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