M&G Investments has raised EUR578 million (US$620 million) for a European residential property fund from two investors.

• EUR400 million (US$430 million) investment from Dutch asset managers MN; and
• Launches with EUR75 million (US$80 million) maiden investment in Finland.

The M&G European Living Property Fund targets investments in the development of new continental European residential property strategy to support wellbeing. It is designed to provide institutional investors with index-linked rental income, house price exposure and geographical diversification, the Fund invests in student, private rented sector and retirement housing.