The Aon UK pension scheme has made its first move into property with the appointment of Schroders to manage a £3.9m (€5.7m) mandate.

The pension scheme, which covers a number of employees in the Aon Group, a global risk advisory firm, is investing 50% of its property allocation in the Schroder Exempt Property Unit Trust. As of June this year the unit trust was the largest pooled property fund of its type in the UK.