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Real Estate

Dutch metallurgy industry pension fund ups commitment to Barings real estate fund

Pensioenfonds Metaal & Techniek, The Hague, Netherlands, made an additional commitment of €100 million ($119.3 million) to Barings European Core Property Fund, a spokesman said.

In 2017, the €71.8 billion pension fund for employees in the Dutch metallurgy industry committed €150 million to the fund managed by Barings Real Estate Advisers.

The spokesman said the real estate fund outperformed several benchmarks. He cited the "strong fund manager" as a key motivation behind allocating to the real estate fund.

"It's an income-producing fund focusing on pockets of 'manage-to-core' and 'build-to-core' with awareness of institutional demands like sustainability," he said.

Both commitments were made by MN, the plan's fiduciary manager, which has €125 billion in assets under management.