Real Estate – Page 107
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UK pension assets rise 16% to E1tn – report
UK – Pension fund assets in the UK have risen 16% to 709 billion pounds (1.06 trillion euros) as at the end of 2003, according to a new report.
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Germany’s Spezialfonds market up 5% - BVI
GERMANY - The German investment fund industry association says said the volume of funds reserved to institutional investors, Spezialfonds, has grown about five percent since last year, boosted by positive markets.
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Disparities seen in listed real estate firms’ NAV
EUROPE - Listed property companies in Belgium, the Netherlands and France have significantly lower discounts to net asset value (NAV) compared to other European markets, a study by the European Public Real Estate Association has found.
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IPE publishes Top 400 European asset managers
EUROPE - IPE has today published its 2004 ranking of the Top 400 asset managers active in the multi trillion-euro European marketplace, with Allianz, Fidelity and State Street Global Advisors retaining their top three places.
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Swiss pension funds boost alternatives - CSAM
SWITZERLAND – Swiss pension funds have raised their allocation to alternative assets to 1.8%, Credit Swiss Asset Management says.
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Standard Life unveils manager-of-manager range
UK - Standard Life Investments has launched a range of manager-of-managers pension funds in conjunction with Wilshire Associates.
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Austrian pension rate move “unconstitutional”
AUSTRIA - The chamber for employees' welfare, the AK, has demanded the government’s reduction of the minimum interest rate for pension funds to be withdrawn, saying it is an “unconstitutional attack to personal property”.
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Ex-Courtaulds CEO to head Jones Lang LaSalle
GLOBAL - Jones Lang LaSalle, the loss-making real estate management firm, has named former Courtaulds Textiles chief executive Colin Dyer as its new CEO.
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New TIAA-CREF institutional arm to eye Europe
EUROPE – The new institutional asset management arm of US education retirement system TIAA-CREF will have a presence in Europe before too long, says one of its top executives.
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Austria’s VPK and BVP consider merger
AUSTRIA- The two billion-euro multi-employer Vereinigte Pensionskassen AG, VPK, and the 1.2 billion-euro banking and insurance sector pension fund BVP-Pensionskassen AG may agree to merge by the end of August.
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DB Real Estate in E1.4bn Italian deal
ITALY – Deutsche Bank’s DB Real Estate arm has bought New Real, the property company of the Italian energy group Enel.
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Pensions grow to 41% of asset management - report
GLOBAL - Pension fund assets have risen to 41% of the asset management industry's client assets in Benelux, France, Germany and Italy, up from 41%.
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Merchant Navy scheme CEO retires after revamp
UK - Geoffrey Henry, the chief executive of the 2.7 billion-pound (4.03 billion-euro) Merchant Navy Pensions Administration Ltd. Merchant Navy Officers Pensions Fund, MNOPF, has retired.
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Schroders makes hedge fund appointment
UK - Schroders has appointed Russell Investment Group’s Derek Doupe to the new role of head of business development for its fund of hedge funds business.
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Jobs to go as ISIS buys F&C Management
EUROPE – An unspecified number of jobs are set to go with the acquisition by Friends Provident’s ISIS Asset Management of F&C Management from Eureko, which values the deal at more than a billion euros.
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HVB Group’s pension head Eckert to leave
GERMANY- Carsten Eckert, chief executive of Pension Consult, the consulting arm of HypoVereinsbank, is to leave his job in July.
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CalPERS names exec to oversee managers, advisors
US – CalPERS has named Anne Stausboll as assistant executive officer, tasked with overseeing external manager and consultant searches and the coordination of internal investment policy.
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UK pension funds’ new investments fall E9.9bn
UK – New investments by UK pension funds fell by 4.6 billion pounds (6.9 billion euros) in the first quarter of 2004, according to the statistics office.
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PGGM gives Aegon its largest-ever win with €1bn
NETHERLANDS – The €55bn PGGM pension fund has given Aegon The Netherlands a €1bn mandate for European government bonds, its largest-ever win and a sign of a change within the investment management style of large pension funds.
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SEB creates the Commercial Real Estate division
GERMANY - Financial banking group SEB is bringing together the real estate business of its Scandinavian Corporate and Institution Division and of its German subsidiary SEB AG Group to better target German investors.
