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Sdcers To Redeem Out Of Aew And Ubs Open-ended Core Us Funds | News | Ipe Ra

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To take $34m out of UBS Trumbull Property and $85m from AEW Core Property Trust. : San Diego City Employees Retirement System (SDCERS) plans to redeem $119m (€105m) from the UBS Trumbull Property Fund and the AEW Core Property Trust due in part to underperformance and to rebalance its portfolio. In a board meeting document, SDCERS said $34m would be withdrawn from the UBS fund, a $22.7bn open-ended core vehicle that had a $3.1bn redemption queue as at last month. IPE Real Assets reported in March that UBS had earmarked $2bn of assets to be offloaded as it looks to meet redemptions.

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