Real Estate – Page 62
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NewsCost of fraud triples for Philips fund
[15:00 CEST 04-08] NETHERLANDS – The €13.4bn Dutch pension fund of electronics major Philips has executed several sequestrations in relation to its involvement in the recent property fraud, now estimated to have cost the fund €150m.
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PMA keeps cover ratio to 185%
[15:45 CEST 31-07] NETHERLANDS - The €1.1bn pension fund for pharmacies’ staff PMA has managed to maintain a cover ratio of approximately 185%, despite experiencing a 23 percentage point drop in the first half of 2008.
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Dutch institutions too relaxed in tackling fraud - FEC
[15:15 CEST 31-07] NETHERLANDS – Financial institutions and service providers do too little to tackle fraudulent real estate transactions in the Netherlands, an official analysis of criminal and supervisory investigations has found.
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LPFA commits to ING’s global real estate FoF
[16:10 CEST 30-07] UK - The London Pension Fund Authority has committed £150m (€190m) of capital to a new global property fund of funds (FoF) launched this week by ING Real Estate Select.
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ABP joint venture spends €2.7bn in shopping spree
[16:00 CEST 29-07] NETHERLANDS – The €205bn Dutch pension fund ABP today revealed it now owns Scandinavia’s largest shopping centre owner and developer, Steen & Strøm, after buying the firm in a joint venture for NOK21.9bn (€2.7bn).
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Manchester seeks property agent
[16:30 CEST 03-07] UK – The £9.6bn (€12bn) Greater Manchester pension fund is seeking a new property management firm to manage part of its real estate portfolio.
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Berkshire to increase alternatives exposure
[16:30 CEST 30-06] UK – The £1.49bn (€1.88bn) Royal County of Berkshire Pension Fund has confirmed its intention to move into emerging market debt and infrastructure with the issue of two new manager tenders.
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FeaturesInfrastructure: a quick road to reward?
This report was researched and compiled by Christopher Hindle and Marie Verpilleux of Global Business Reports
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NewsNorway consults on ethical pension guidelines
[17:05 CEST 23-06] NORWAY – The Norwegian Ministry of Finance has issued a public consultation on the evaluation of ethical guidelines for the Government Pension Fund – Global, which highlights potential changes such as introducing a 'cut-off' point for active ownership discussions.
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NewsTeeside offers £1.75m direct property mandate
[15:45 CEST 06-06] UK – Middlesbrough Borough Council has issued a tender for a manager to take responsibility for the direct property portfolio of its local government pension scheme.
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APG reshuffles Asian real estate team
[16:50 CEST 03-06] NETHERLANDS – Dutch APG Investments, the wholly-owned division of ABP created to manage the assets and administration of the pension fund, has reshuffled its Asian real estate team.
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Features
Inflation assets: alternatives from inflation
Lynn Strongin Dodds looks at the use of alternative assets as a means of protecting against inflation.
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FeaturesInflation seller: Øresund Bridge
While pension funds, insurers and private investors benefit from lower inflation, public authorities and enterprises, utilities, real estate and distribution companies profit from higher inflation. So, the latter group can benefit from becoming inflation sellers, according to a Fortis Investments reports, ‘Inflation swaps to safeguard future income or hedge against ...
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FeaturesDealing with inflation
IPE asked three pension funds – in Austria, Finland and the Netherlands – the same question: ‘How do you protect your investments from inflation?’ Here are their answers:
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Dutch transport funds team up to buy real estate
[16:30 CEST 29-05] NETHERLANDS – The Dutch €12bn railway pension fund (SPF) and the €2bn public transport pension fund (SPOV) have together with Generali Real Estate bought an €80m Dutch shopping centre project.
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IPE-Quest: Finnish fund seeks UK real estate
[12:00 CEST 29-05] FINLAND – A Finnish pension fund is looking for managers for a £150m (€189.5m) UK real estate mandate, using IPE Quest.
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Good quality property strategy will 'shield' FSP
[14:00 CEST 22-05] DENMARK - Danish pension fund FSP is expecting to avoid the worst of the market rout by investing in good quality property and avoiding the most volatile market segments.
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LGPI allocates $75m to Asian property
[16:50 CEST 21-05] FINLAND – The Finnish Local Government Pensions Institution (LGPI) has invested $75m (€48m) into an Asian real estate fund of funds managed by Aberdeen Property Investors (API).
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UBS disposes of subprime-related embarrassment
[15:30 CEST 21-05] SWITZERLAND - Swiss bank UBS has sold $15bn (€9.7bn) worth of US residential mortgage-backed securities to a newly created distressed asset fund.
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North Yorks pension moves into property (amended)
[16:00 CEST 20-05] UK – The £1.2bn (€1.5bn) North Yorkshire County Council pension fund is adjusting its asset allocation and moving into real estate investment, as well as searching for an overseas equity manager.
