AMP Capital has been awarded its first mandate by Chinese pension fund, the National Social Security Fund (NSSF).
AMP Capital will manage a global real estate investment trust portfolio for the fund.
"We are very pleased to be awarded this mandate from the National Council for Social Security Fund (NCSSF), which is evidence of our leadership in the global listed real estate sector," AMP Capital international business director Anthony Fasso said yesterday.
The NCSSF - the trustee of the fund - is one of the largest institutional investors in China and the fund has about $150 billion in funds under management.
It was one of the first Chinese institutional investors to invest offshore through external mandates and investment managers.
AMP Capital has built up a relationship with the NCSSF since 2001, when the pension fund was established.
Over the years, the two organisations have supported each other with advice on their pension markets.
But it is the first time that the Chinese pension fund has allocated money to AMP Capital.
NCSSF has not given any financial details about the mandate, but it is understood to be around $100 million.
AMP Capital was one of 12 managers to be allocated new mandates.
