Real estate specialists commit to Standard Life Investments' European
Property Growth Fund

MONTREAL, Nov. 25 /CNW Telbec/ - Standard Life Investments, one of the largest real estate fund managers in Europe, today announced that Aviva Investors and Henderson Global Investors have collectively committed around €60m in equity to the European Property Growth Fund ("EPGF" or "the Fund") on behalf of their underlying clients.

Launched in 2001, the Fund currently has a gross asset value of approximately €766m* and comprises 38 assets in 10 countries across Continental Europe.* The Fund is structured as a semi open-ended English Limited Partnership providing sophisticated investors with exposure to direct continental European real estate, through income producing investments and, to a limited extent, development opportunities. The investment objective of EPGF is to provide a net target total return of 10% a year over rolling five-year periods.

Commenting on the new investments, James Rushworth, Fund Manager, European Property Growth Fund, Standard Life Investments, said:

"It's a testimony to the quality of the Fund's existing portfolio, and our distinctive investment philosophy, that we have received the backing of two such prestigious multi-managers. Aviva Investors and Henderson Global Investors have meticulous standards of governance and due diligence and I'm delighted that we've matched their expectations."

Commenting on their commitment to the Fund, John Gellatly, Head of UK & Europe, Global Real Estate Multi-Manager, Aviva Investors said:

"We have a high opinion of Standard Life Investments' European Property Growth Fund due to its analytical rigour and respected property investment and research teams. We believe that this investment will enable our clients to benefit from this as well as the Fund's strong deal flow."

Des Jarrett, Director of Property, Henderson Global Investors, said, "We were impressed by the quality of the properties owned by Standard Life Investments' European Property Growth Fund. This, together with country, sector and tenant diversification, gave us the confidence to invest in the Fund on behalf of our clients."

Aviva Investors and Henderson join 32 other global institutional clients in the Fund.

* Source: Standard Life Investments, as at 30/9/10

For further information:

Roch Landriault
NATIONAL Public Relations
514-843-2345
[email protected]