Sarasin Investment Management has appointed DTZ to replace Jones Lang LaSalle as advisor on its global real estate funds.

The change comes more than two years after the funds, which have raised more than £300m of investment, were launched in December 2004.

The change of advisor comes just one month after Sarasin launched the Sarasin Real Estate Equity IIID fund, aimed at taking advantage of investment powers under the European Union's UCITS (Undertakings for Collective Investment in Transferable Securities) directive. This allows traditional funds to use more flexible strategies such as derivatives.

Swiss fund manager Sarasin also manages the Sarasin CI Global Property Fund for Sterling based investors and the Sarasin Real Estate Equity Fund for Euro based investors.