Schroder Property Investment Management Ltd has been appointed to manage investment portfolios on behalf of the Invista Foundation Property Trust and the Equitable Life Assurance Society (ELAS). The combined gross asset value of the two portfolios is approximately £600 million (€721 million).

“Schroders manages a number of investment trusts, and adding a property investment trust to the range has been a business objective for some time,” says William Hill, head of Schroder Property. “We believe the property investment trust sector has the potential to grow substantially in a savings market that is demanding both yield and liquidity.”