Real Estate – Page 117
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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.
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UK managed assets total e2.8trn - IMA
UK – Assets managed in the UK as of end of June 2002 were 1.93 trillion pounds (2.8 trillion euros) according to the latest fund manager survey by the Investment Management Association.
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CSAM names DiMaio as head of alternatives
GLOBAL – Credit Suisse has named Jack DiMaio as chief executive of alternative investments at its Credit Suisse Asset Management division.
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PGGM sees cross-border opportunities of directive
NETHERLANDS - The chief economist at Europe's second largest pension fund, the 47 billion euro Dutch health and social service PGGM, says the European Pension Fund Directive has opened up "irresistible" opportunities for all European pension players.
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E1.2bn TNO fund appoints enhanced index manager
NETHERLANDS - The Rijswijk-based e1.2bn TNO pension fund for workers in the Dutch public/private sector for research and statistics, has awarded State Street Global Advisors an enhanced index mandate worth around e100m over the next couple of years.
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Finnish fund tenders for Asia Pac equity managers
FINLAND – The e12bn local government pensions institution responsible for pension cover of Finnish municipal employees has put out to tender an Asia Pacific ex Japan equities mandate worth up to e200m.
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Finland’s Ilmarinen taps Aberdeen for property
FINLAND – Finnish pension insurer Ilmarinen has appointed Aberdeen Property Investors to manage an international indirect investment property portfolio.
