Prudential Corp Asia building global property portfolio

Prudential Corporation Asia’s asset allocation team – which manages the life insurance general account in the region – is looking at buying European and US property assets for the first time with a view to creating a truly global real estate exposure. Meanwhile, the portfolio is well below its 5% target allocation to alternatives (it doesn’t put property in this category) and is tentatively looking for investment ideas in this area, says Kelvin Blacklock*, Singapore-based chief in…