Real Estate – Page 104
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UK’s Dorset allocates to hedge funds in revamp
UK - The 900 million-pound (1.3 billion-euro) Dorset County Pension Fund has allocated five percent of its portfolio to hedge funds investments as part of a review of investment strategy.
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Kodak pension scheme gets property boost
UK – The one-billion-pound (1.46 billion-euro) Kodak Ltd. Pension Plan has seen the real-estate assets in its joint venture with property firm Halladale almost double in a year, according to company documents.
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Deutsche names European real estate research head
EUROPE – Deutsche Bank’s real estate arm has named Peter Hobbs as head of European real estate research.
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This week’s UK pension fund disclosures
UK – The following are UK pension funds’ holdings in companies that have been disclosed this week under the Financial Services Authority’s stock market listing rules.
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Spain’s Zapatero signals confidence in PAYG
SPAIN - The Spanish prime minister, José Luis Zapatero, has announced an increase in state pension payments in a sign of his confidence in the public pay-as-you-go system.
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Deka scandal unlikely to faze investors – HVB
GERMANY – The scandal at Deka Immobilien Investment GmbH which has seen the real estate firm’s head dismissed, is unlikely to faze investors, an analyst at HVB says.
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Rabobank asset management profit falls 6%
NETHERLANDS – Rabobank says its asset management activities’ pre-tax operating profit fell six percent to 80 million euros in the first half of 2004.
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CalPERS buys into German real estate
GERMANY – CalPERS, the largest US pension fund at 166.3 billion dollars (136.8 billion euros), has bought a commercial property in Frankfurt for 14 million dollars.
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Former Varma CEO Pitkänen retires
FINLAND - Paavo Pitkänen, the former president and chief executive of Varma Mutual Pension Insurance Co., has retired from the company.
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BOE says DB closures adding to property boom
UK – The Bank of England says the closure of defined benefit occupational pension schemes has added to the recent “upward pressure” on house prices in the UK.
