Aberdeen Asset Management has successfully closed on US$151 million for its latest Asia Pacific property investment fund. The new vehicle, the fourth Asia Pacific multi-manager fund it has launched since 2006, will be run by a team in Singapore under Kang Puay-Ju, head of property multi-manager at Aberdeen.

Kang says, “This is a favourable time to be investing in property as pricing remains attractive relative to bonds. There are also more ways that investors can invest in this asset class, with the deepening of the secondaries markets and the institutionalization of sectors once perceived as “alternative”, such as student housing, senior housing and self-storage. These developments have broadened the opportunity set which we are looking to capitalize on for our new products and mandates.”

The anchor investor is Keva, Finland’s largest pension provider, which administers pensions on behalf of public sector workers and government organisations. Aberdeen has a longstanding relationship with Keva, which has invested in previously launched funds.