Real Estate – Page 112
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LGIM's institutional fund mgmt profit falls
UK – Legal & General says the operating profit of its institutional fund management arm LGIM fell to 80 million pounds (119.7 million euros) in 2003 from 92 million pounds in 2002, a decline of 13%.
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Germany’s Spezialfonds resumed upward trend in 2003
Germany – The assets in Spezialfonds, used for institutional mandates, grew by 8 per cent in 2003 to 508 billion euros in 5,104 securities based funds...
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New IPE Real Estate publication launched
GLOBAL – IPE has launched a new quarterly publication, IPE Real Estate, to accompany the main monthly magazine.
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DeAM names UK business section heads
UK – Deutsche Asset Management, the second largest manager of European pension assets, has named the heads of its seven new “business streams”.
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DeAM set to unveil heads of UK product teams
UK – Deutsche Asset Management, the second largest manager of European pension assets, is set to unveil the heads of its planned seven new UK investment teams soon.
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Sweden’s AP3 makes total return of 16.2%
SWEDEN – AP3 says its total return in 2003 was 16.2%, taking its value to 142.5 billion crowns (15.5 billion euros).
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PGGM lobbying against Staatsen proposals
NETHERLANDS – PGGM says it is lobbying against proposed curbs to pension funds’ non-core activities, saying it has three main concerns – on exit strategy, timing and the role of the regulator.
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Philips pension fund moves away from equities
NETHERLANDS - The 12.5 billion-euro Dutch pension fund of electronics company Philips is targeting an allocation of 38% equities in 2004 - down from 46% in 2002.
