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The [pounds sterling]470 million ($760 million) Global REITS Index Tracker Fund was launched by LGIM in 2006 and aims to provide global, diversified exposure to listed real estate equity markets around the world by tracking the FTSE EPRA/NAREIT Global Real Estate Index.
Sacha Sadan, director of corporate governance at LGIM, said Unilever had not made a "compelling" case for the move.
LGIM is the investment manager of the fund and is responsible for managing the assets and investments of the fund in accordance with the investment objective and policies.
To ensure a successful global launch, the company recently assumed USD60 billion in pension assets from UK-based LGIM, more than doubling its assets under management, and added two experienced members to the index fund team.
Hugh Cutler, Head of Distribution (LGIM) said, "We are delighted that Andy has joined us.
Looking on the bright side, the LGIM figures suggest people are listening to the warnings coming from the industry that, in order to enjoy a comfortable retirement, they themselves need to save for it.
LGIM is one of the largest investors in Europe, with almost PS900bn in assets under management at the end of last year.
Barrie Cornes, insurance expert at Panmure Gordon, added that Legal & General Investment Management (LGIM) was "firing on all cylinders" as the asset management arm saw operating profits rise 13% to PS135m.
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