Henderson Global Investors has acquired French property asset management firm Horizon Investment Management.
The £132m First State Global Property Securities fund has dominated the IMA Property sector over the last five years, being one of only two funds to make a positive return over that period, and has returned 84.5% since 2009.
Gerardine Davies, former director of property at Aegon Asset Management, has joined BNP Paribas Real Estate as head of UK investment management.