Real Estate – Page 79
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Structured products strong in H1 – BNP Paribas
EUROPE - The first part of 2006 showed very strong growth for structured products, according to BNP Paribas Equities & Derivatives.
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UBS doubles German institutional assets
GERMANY – Due partly to proliferation of big corporate pension funds, Swiss bank UBS has raised its institutional assets under management in Germany to €8bn – more than double the figure for December 2004.
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Fortis names global LDI head
NETHERLANDS – Fortis Investments has appointed Alexander Van Aken to the new position as global head of liability driven investment.
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Finland’s Fennia eyes overseas real estate
REAL ESTATE - Public sector scheme Pension-Fennia is to invest €200m – 30% of its real estate allocation – in overseas indirect property amid increasing concerns over potential volatility in the Finnish market. (From iperealestate.com.)
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PensionDanmark starts real estate project
DENMARK – PensionDanmark today began building apartments in Måløv, near Copenhagen, that will be ready for occupation at the end of 2007.
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New editor named at IPE Real Estate
GLOBAL – Martin Hurst, features writer at IPE Magazine, is to take over as editor at sister publication IPE Real Estate.
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Ex-CalPERS’ McCook joins new firm
REAL ESTATE - Mike McCook, the former senior investment officer for real estate at the California Public Employees Retirement System, has found new employment. (This article first appeared on IPERealEstate.com.)
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Lancashire tenders €146m in hedge funds
UK - The £3.47bn Lancashire County pension fund has tendered around £100m (€146m) in fund of hedge funds.
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FRR explains reasoning for avoiding hedge funds
FRANCE - The FRR, the €27.7bn Fonds de Réserve pour les Retraites or French Pensions Reserve Fund, has explained why it will not be investing in hedge funds as part of its new strategic asset allocation which features a shift towards 'alternative' assets.
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Bulgarian schemes ‘to grow as rules loosen’
BULGARIA – Bulgarian pension funds’ asset growth to €564m is set to continue as investment regulations become less restrictive, says ING.
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ABP eyes non-listed sector amid short-termism
NETHERLANDS - Europe’s largest pension fund, the Dutch civil service giant ABP, is planning to shift the accent of its investments to non-listed companies and real estate, says chief investment officer Roderick Munsters.
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Nordrheinische doctors fund taps GSAM for GTAA
GERMANY – Nordrheinische Ärtzeversorgung (NAEV), a €7.5bn pension fund for physicians, has awarded Goldman Sachs Asset Management a global tactical asset allocation mandate worth €60m.
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City of Westminster axes Henderson, Aberdeen
UK – The roughly £600m (€871m) City of Westminster pension fund has axed Henderson Global Investors and Aberdeen Asset Management following a scheme restructure.
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Amonis cuts equities, real estate for hedge funds
BELGIUM – The €1bn Amonis pension scheme for dentists, doctors and pharmacists has reduced its exposure to equities and real estate, and ploughed roughly €34.2m into a fund of hedge funds portfolio managed by Key Asset Management.
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Finnish state fund ‘eyes 10% alternatives shift’
FINLAND – Finland’s €8.2bn State Pension Fund, Valtion Eläkerahasto or VER, is planning to allocate 10% of its assets to alternatives, according to a report.
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Dutch rail fund questions real estate boom
NETHERLANDS - Dutch pension funds will ditch bricks for funds, according to Peter van Gool, deputy director of real estate at Dutch pension fund SPF Beheer.
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Germany’s Ehrhardt targets UK institutions
GERMANY – Independent German asset manager Dr. Jens Ehrhardt (DJE) is launching its funds in the UK, targeting institutional investors such as pension funds.
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IPE Real Estate Awards: the winners
REAL ESTATE - Pension funds’ adoption of new models for new markets paid off at the IPE Real Estate Awards last night as investors collected prizes for geographical diversification and the move into indirect investment.
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Novartis pension fund returns 6.2%
SWITZERLAND – Novartis’ pension fund, one of Switzerland’s biggest with CHF14.6bn (€9.3bn) in assets, has reported a return of 6.2% for 2005 - well below the 11% average for other Swiss schemes.
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IPE-QUEST: Swiss AHV tenders real estate
SWITZERLAND – AHV Ausgleichsfonds, the administrator of the reserve fund for the Swiss Federal Social Security System, has tendered around CHF150m (€95.9m) in passive Asia Pacific real estate via IPE-Quest.
