Schroders has won a £90m UK property multi-manager mandate.

The fund manager has been appointed by Avon Pension Fund, administered by Bath and North East Somerset Council, to invest £90m in core, value-added and opportunistic property funds over the next two yars.

‘We are encouraged by the range of opportunities that are presenting themselves in the UK commercial property market,’ said Graeme Rutter, a fund manager in Schroders’ property multi-manager team, said.

‘For long-term investors such as Avon Pension Fund, the next 24 months could present some of the best buying opportunities for many decades.’

Schroders' property multi-manager business was launched in 1997 and manages more than £1.4bn of assets.

The business is headed by Jenny Buck.