Scots investment giant launches housing fund

Aberdeen Standard Investments has launched a new fund targeting European residential property with initial investments in excess of €350 million (£306m) secured.

It is said to be the first openended property fund of its kind to invest in residential assets on a pan-european basis and will focus on the private rented sector, taking advantage of “low supply and high demand” for rented residential property in key cities.

The Scots financial giant said the initial cash had been received from eight investors in Luxembourg, the Netherlands and Switzerland.

Aberdeen Standard Investments global co-head of real estate, Pertti Vanhanen, said: “The time is right to launch this sort of fund. We now have the residential experience, a broad global real estate outlook, local market knowledge, and boots on the ground in 14 European offices to deliver a residential investment product targeting strong, stable returns.”