Aviva Investors, the global asset management business of UK insurer Aviva with some £246bn (€343bn) of AUM, has appointed Mike Luscombe as lead manager of the Aviva Investors Property Trust, an open ended non Ucits retail scheme (Nurs)
Luscombe replaces Philip Nell, who is moving to work on property at Hermes.
At Aviva Investors, where he has been for nearly 27 years, Luscombe will report to Ben Stirling, managing director, European Direct Real Estate.
For the past 15 years, Luscombe has managed the Aviva Linked Property Fund – Aviva’s UK unit linked life and pension property fund valued at c£3bn (€4.2bn).
Aviva Investors has revised upwards its total annual return for UK commercial property by 1%, forecasting a total return of 9% annually between 2015 and 2019.