Advance Asset Management (AAM) has appointed BT Investment Management (BTIM) to manage a Australian property sector mandate, Financial Standard reports. BTIM has been awarded a mandate of $61.5 million.
AAM started searching for a new Australian property manager after becoming uncomfortable with a change of personnel and structure at previous investment manager Macarthur Cook. Advanced Asset, which has $11.5 billion worth of funds under management, is seeking to appoint new managers for its multi-manager team.
Click here for the story from Financial Standard.