ING Real Estate Investment Management (ING REIM) has today launched five property funds targeting institutional investment in the European and UK markets.

The three European funds are the €1bn (£674m) Central and Eastern Europe (CEE) Property Fund, the €1bn (£674m) Nordic Property Fund and the €500m (£337m) French Residential Property Fund. The launch of the three funds brings the ING REIM’s total number of funds investing in continental Europe to 15.

David Blight, global chief of ING REIM, said the launch of the funds was in response to total investment returns from real estate in the main European markets outperforming both bonds and equities over the last five years. ‘Real estate as an asset class is becoming increasingly sought after as it can provide a long and growing income stream as well as the ability for the manager to add value via astute and intense management,’ said Blight.