Real Estate – Page 117
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News
Lucent’s Dutch fund ousts Schootse Poort, ABN Amro
NETHERLANDS – The incumbent managers at Lucent Technologies’ 450 million euro Dutch pension fund, Schootse Poort and ABN Amro, have been replaced in a shift to specialist managers.
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UK’s Leicester reviews asset, portfolio structure
UK – The 1.1 billion pound (1.52 billion euro) Leicestershire county council pension fund is reviewing its asset and portfolio structure and is asking for managers to put forward proposals for various asset classes.
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UK’s FSA proposes new collective investments
UK – The Financial Services Authority is proposing a new type of collective investment scheme for institutional investors and expert investors in the UK which should allow them to be more competitive within Europe.
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DeAM and Schroders ousted at Oxford council
UK – The 500 million pound (703 million euro) pension scheme of Oxfordshire County Council has replaced Deutsche Asset Management and Schroders with UBS, Baillie Gifford, Alliance Bernstein and Legal & General as part of a move to find better performance.
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Norway’s KLP ready for new pension proposals
NORWAY – Mutually-owned insurer KLP says it is well placed to benefit from proposed changes in the Norwegian pensions market, but says it will mean hard work and a change in its approach.
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West Sussex tenders property portfolio
UK – The 750 million pound (1.05 billion euro) West Sussex County Council pension fund has put its direct property portfolio up for tender.
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New EU states to have hot property markets
EUROPE – Property investments in countries that are about to join the European Union look very favourable, but tread carefully - so says Matthew Ryall of LaSalle Investments.
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Guinness pension fund appoints Morgan Stanley
IRELAND – The 1.2 billion euro Guinness Ireland group pensions scheme has appointed Morgan Stanley Investment Managers to run an 110 million euro European fixed income mandate.
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Denmark’s ATP increases property allocation
GERMANY – ATP, the 31.2 billion euro Danish supplementary pensions scheme, says it will increase its allocation to property by the end of 2005 and move away from domestic dominated property.
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Cross-border property investing on the rise
GERMANY - Cross-border investing in property by institutions is becoming more popular and investors should be looking at forming a regional rather than a domestic strategy – that’s the message from the IPD property conference in Wiesbaden.
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Merrill Lynch Investment Managers settles pension case
UK – Merrill Lynch Investment Managers has settled a legal dispute with the 2.1 billion pound (2.9 billion euro) pension scheme of the Co-operative Group.
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New European property investment body to launch
EUROPE – A new pan-European body for investors in non-listed real estate is to launch next week which hopes to tackle the issues arising in the growing market.
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UK’s Greenwich Council awards five mandates
UK – Greenwich Council’s 450 million pound pension fund has dished out five new mandates following a change of strategy, and a loss for Schroders Investment Management.
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Schroders in European property push
EUROPE – Schroders Property Investment Management is making a push into Europe, joining two European property associations, and adding one member to its team.
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Irish reserve fund to move into new asset classes
IRELAND - The commissioners responsible for the investment strategy of Ireland’s eight billion euro National Reserve Pension Fund have decided about exposure to additional asset classes apart from equities and bonds.
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LGIM wins E394m Highland Council mandate
UK – The Scottish Highland Council pension fund has moved 272 million pounds (394.6 million euros) formerly managed by Rothschild Asset Management to Legal & General Investment Management following the acquisition of Rothschild AM by HBOS’s fund management arm, Insight Investment Management.
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Strathclyde in E1.52bn bond, equity tender
UK – The five billion pound Strathclyde pension fund has put out two tenders of up to 1.05 billion pounds (1.52 billion euros) following an asset liability study.
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UK’s BoS restructures e1.73bn pension fund
UK – Edinburgh Fund Managers and Baring Asset Management have lost their mandates for the Bank of Scotland’s 1.2 billion pound (1.73 billion euro) pension scheme as a result of a complete restructuring of the fund.
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E1.13bn Dundee taps Goldman, Alliance Bernstein
UK – The Dundee City Tayside Superannuation fund has appointed Goldman Sachs Asset Management and Alliance Bernstein for its 775 million pound (1.13 billion euro) fund.
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Hackney appoints specialists for e509m scheme
UK – The London Borough of Hackney pension fund has announced the appointment of a series of specialist managers for its 350 million pound (509 million euro) scheme.
