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Morley and ABP the latest investors in China

Morley Fund Management is the latest European investor to move into the Chinese property market.

It has launched a $2 billion Asian real estate fund and has plans to invest up to $10 billion in the next four years.

This follows ABP’s arrival in the region with a new Hong Kong office in March. Europe’s largest pension fund is seeking investments in the region, focusing on non-listed property and infrastructure.

Other names in the market include Macquarie, which has invested $135 million in shopping centre developments across nine Chinese cities via its Wanda commercial property fund.

Morley is running its new fund from Singapore under Andrew Peacock, who will look to build a team and establish a multi-manager business with the support of analyst Guy Cawthra.

The initial $2 billion has come from Morley’s parent, UK insurance company Aviva. Half of that will be invested in Japan and half will be spread between China, South Korea and India.

The fund manager plans to form a series of joint ventures across Asia, with the first one in Japan just announced. Mitsubishi UFJ Trust and Banking Corporation is joining up with Morley in a $500 million venture and will make a first investment in a Tokyo central district office.

The first target is institutional funds, with retail investors to follow.

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