Nottinghamshire County Council Pension Fund, Nottingham, England, committed £22 million ($28 million) to a Kames Capital commercial real estate tracker strategy, confirmed a spokesman.
The pension fund, with about £5 billion in assets, allocated to the Kames Active Beta Property Fund, which tracks real estate market returns with controlled levels of risk. It is a pooled strategy tracking the U.K. commercial real estate market, taking small and active positions across balanced real estate strategies.
The spokesman said the commitment is a new allocation.
"Investing in the Kames Active Beta Property Fund enabled us to quickly raise our weighting to U.K. commercial property and achieve immediate diversification without the additional governance time associated with appointing more fund managers," said Tamsin Rabbitts, senior accountant, pensions and treasury management at Nottinghamshire County Council Pension Fund, in a Kames news release.
The fund had a 13.4% allocation to real estate as of March 31.