Real Estate – Page 114
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Alternatives group Fortress expands into Germany
GERMANY – US alternative investment firm Fortress Investment Group is expanding into Germany, appointing Matthias Moser to head up the move.
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European pension funds stick with alternatives
GLOBAL – European and North American pension funds remain committed to alternative investments, according to Goldman Sachs and Russell.
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Hewitt reshuffles top UK management
UK/IRELAND – Hewitt Bacon & Woodrow has reshuffled its senior management and appointed Roger Parkin to succeed Richard Moore as UK and Ireland managing director.
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West Sussex taps State Street for custody
UK – The 749 million-pound (1.1 billion-euro) West Sussex Pension Fund has appointed State Street as custodian and re-appointed Cushman & Wakefield Healey & Baker as property manager.
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Hibernian passes some asset management to London
IRELAND - Hibernian Investment Managers, (HIM) one of the five largest asset managers in Ireland, has split its fund management business between Ireland and the UK.
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Deutsche Bank sees growth at asset arm
GERMANY – Deutsche Bank says its private client and asset management arm, which includes Deutsche Asset Management, is seeing profitable growth.
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Highland fund opts for three new specialist managers
UK – The Highland Council pension fund in Scotland has appointed Alliance Bernstein, Fidelity Investments and Schroder Investment Managers as Insight Investment loses its 300 million pound (435 million euro) mandate.
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ABP forms real estate venture in US with Prentiss
NETHERLANDS/US – Dutch civil servants pension fund, ABP, has agreed to form a joint venture with US real estate investment trust, Prentiss Properties Trust.
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German investment funds gain E48bn
GERMANY – German investment funds have seen net inflows of 48.7 billion euros in the first three quarters of 2003, according to the latest statistics from the BVI.
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Rogge Partners in Japanese joint venture
EUROPE/JAPAN – Fixed income manager Rogge Partners has teamed up with Tokio Marine to form a Japanese asset management venture.
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LGIM says corporate pensions business rises
UK - Legal & General Investment Management has posted a 40.5% rise in new corporate pension business in the third quarter.
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DeAM names Hughes UK property chief
UK – Deutsche Asset Management has appointed Bill Hughes as chief executive of its real estate investment management and advisory division.
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Swiss fund PUBLICA’s director Dueggeli to leave
SWITZERLAND – Peter Dueggeli, director of the Swiss fund PUBLICA (formerly PKB), has announced he will be leaving the position at the end of next June.
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Morley reappointed at Lincolnshire fund
UK – Morley Fund Managers has been reappointed to run a 100 million-pound (143 million-euro) fixed income mandate for Lincolnshire County Council pension fund.
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Pension allocation to property under discussion
US – The amount pension funds should allocate to real estate has come under discussion by pundits at the Pensions Real Estate Association’s conference in Boston.
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Germany: Deutsche says ageing to hit property
GERMANY – Germany’s investment products must diversify more strongly across regions and property categories, says Deutsche Bank.
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Euro boost for European pooled property funds
EUROPE – The euro has had a positive impact on cross-border investing in European pooled property funds, according to IPD and ABN Amro.
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Nationwide fund drops Schroders as main manager
UK – Schroder Investment Management has been dropped as the main fund manager for the 850 million-pound (1.22 billion-euro) pension fund of Nationwide Building Society as a result of poor performance.
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Inflows to German investment funds halve
GERMANY – Investments into German investment funds dropped by half in August to 1.6 billion euros, according to the latest data from the BVI, Bundesverband Investment und Asset Management.
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Aberdeen Asset Management sells AVI
UK – Aberdeen Asset Management has decided to sell its Asset Value Investors subsidiary to its management.
