Real Estate – Page 80
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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.
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Belgium prepares for pan-European schemes
BELGIUM – The Belgian government has reiterated its desire to become a pan-European pension fund domicile ahead of a new control law on the matter.
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Union Investment offers overtime accounts
GERMANY – Union Investment has become the latest German fund manager to offer so-called ‘overtime accounts’ – a vehicle that can be used by employees to finance early retirement.
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Swiss teachers fund BLVK rejects legal action
SWITZERLAND – The CHF4.6bn (€2.95bn) Berne teachers pension fund BLVK says it won’t take legal action against those deemed responsible for its financial woes – despite calls from members.
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IMA creates new role of head of tax
UK – The Investment Management Association has created a new role of head of tax to help it deal with a higher workload in the area.
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Schroders scheme ups property allocation
REAL ESTATE - Schroders has shifted its £500m (€733m) pension fund towards UK commercial real estate – with investment head Alan Brown slamming the “transparently wrong” assumptions underpinning asset/liability modelling.
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NAPF’s Ellison to chair IPE Real Estate event
NETHERLANDS – National Association of Pension Funds chairman Robin Ellison is to chair IPE Real Estate’s Investor Forum & Awards in Amsterdam on June 1.
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Morley launches real estate trading facility
REAL ESTATE - Morley Fund Management has unveiled a UK “trading facility” for its own unlisted real estate funds. (This article first appeared on www.iperealestate.com)
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German Spezialfonds grow by €46bn – BVI
GERMANY – Investor inflows to German institutional funds (Spezialfonds) in the year to March 31 totalled €46bn, helping to bring the total volume of these funds to €635bn, according to German fund industry association BVI.
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UK’s Kent County Council rejigs manager roster
UK - The roughly £2.3bn (€3.4bn) Kent County Council pension scheme has axed Goldman Sachs Asset Management from a roughly £350m UK and overseas equities mandate amidst a strategic asset reshuffle at the scheme.
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IPE-QUEST: European fund tenders real estate
EUROPE – A continental European corporate pension fund has tendered substantially in excess of $100m (€78m) in indirect global real estate via IPE-Quest.
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German pension funds face Solvency II regime
GERMANY – Financial services regulator BaFin says it wants to apply parts of the Solvency II insurance regime to certain German pension funds, regardless of whether a future EU directive requires this or not.
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Hymans sees shift to global equities, bonds
UK – The UK’s 50 largest fund managers saw an increased shift from UK equities to fixed income and global equities in 2005, according to an annual survey by Hymans Robertson.
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West Sussex reviews €950m Baillie Gifford brief
UK – Baillie Gifford could be axed as active balanced fund manager of the £1.4bn (€2bn) West Sussex County Council pension fund following the scheme’s regular review process.
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Blue Sky wins €150m Air UK business
UK – Blue Sky Group, which manages the pension assets of KLM, it to run assets of a UK scheme affiliated to the Dutch airline.
