Prudential Corp Asia building global property portfolio
The UK insurer's Asian asset allocation team is eyeing European and US real estate for the first time and tentatively looking at boosting its alternatives exposure outside property.
Prudential Corporation Asia’s asset allocation team – which manages the life insurance general account in the region – is looking at buying European and US property assets for the first time with a view to creating a truly global real estate exposure.
Meanwhile, the portfolio is well below its 5% target allocation to alternatives (it doesn’t put property in this category) and is tentatively looking for investment ideas in this area, says Kelvin Blacklock*, Singapore-based chief in…
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