ABERDEEN Standard Investments has formed a joint venture with a bank in Japan to invest in residential property in the country and what it termed other matures markets across the Asia Pacific region.
The company described the link up with Sumitomo Mitsui Trust Bank as an important step in expanding its global investment offering.
It said the partners will deliver a compelling Asia Pacific real estate strategy for investors by combining Sumitomo Trust’s strong local presence in Japan with Aberdeen Standard’s global distribution platform and Asia Pacific investment and fund management expertise.
The venture expects to be able to capitalise on the trend towards urbanisation in countries such as Japan.
“Over the next decade cities in the Asian Pacific region are set to experience very strong growth, fueled by both domestic and foreign immigration to major metropolises, which bode well for housing demand over the medium-term,” said the head of real estate Asia Pacific at Aberdeen Standard Investments, Kang Puay Ju.
Total funds under management at Aberdeen Standard Investments fell to £505.1bn net of withdrawals in 2018, from £562.1bn
The parent Standard Life Aberdeen group said it had been winning asset management business as a result of being innovative.
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