Pramerica’s UK Ground Lease Fund wins performance award
The Association of Real Estate Funds has awarded Pramerica Real Estate Investors’ UK Ground Lease Fund an award for best performance in the 5-Year, risk adjusted, absolute return category.
The award was presented to the fund in recognition that it has produced the best risk-adjusted return of AREF member fund over a five-year period to the end of Q2 2013, in absolute terms, as independently calculated by IPD.
Pramerica Real Estate Investors is the European arm of the real estate investment and advisory business of Prudential Financial, which is headquartered in the United States.
Pramerica’s UK Ground Lease Fund targets very long ground leases of over 75 years, which typically offer investors the benefits of long term, secure income derived from high quality assets. The fund currently manages capital of £295m on behalf of institutional investors.
Paul Dennis-Jones, head of UK Fund Management at Pramerica, commented: “This award is judged purely on the financial performance of the vehicle so it is particularly pleasing that our UK Ground Lease Fund’s proven market-leading returns have been endorsed in this way. We are confident that the Fund’s secure and long term income will continue to be very attractive to investors seeking good returns from the real estate sector in the ongoing low interest rate environment.”