MLC has added global listed property to its UK portfolios.
The new asset class will be managed by LaSalle Investment Management and exposure will vary across the six multi-asset class portfolios.
Global listed property becomes the sixth asset class available in the portfolio, joining UK equity, global equity, UK bonds, global bonds and cash.
Head of investment strategy at MLC in the UK, Bobby King said: "By investing globally we can tap into a much more diversified market.
There are just over 30 listed real estate companies in the UK compared to over 200 globally.
Markets such as the US, Australia, France and Holland have developed real estate investment trust structures which are more transparent and have better flow through of rental income to investors.
MLC has also re-developed it UK equity fund strategy for investors by appointing Alliance Capital and Dimensional Fund Advisors as new UK equity managers, replacing Henderson Global Investors.
Alliance Capital will manage a 40 to 60 stock portfolio with a distinct growth style that will target larger companies, while Dimensional Fund Advisors will manage a well diversified portfolio with deep value characteristics.
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