Strathclyde Pension Fund is splitting its property exposure, which was previously allocated to one manager, as it targets new types of investment and awards new mandates.

The £13.7 billion fund, which uses DTZ Investment Management as its main property investment manager, previously invested in tranches of more than £10 million. It is now splitting its property exposure three ways: units of sub £10 million, units of more than £10 million and fund of funds investments. It had £863 million invested with DTZ at the end of 2012.