Real Estate – Page 80
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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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Mn Services names equities director
NETHERLANDS - Dutch fiduciary management firm Mn Services has named Patrick Wierckx as director of equities.
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Leicestershire axes BGI in review
UK – The £2bn (€2.9bn) Leicestershire County Council Pension Fund has axed Barclays Global Investors as manager of a roughly £400m multi-asset class passive portfolio following a review of the scheme structure.
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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.
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Swiss schemes still cutting domestic securities
SWITZERLAND – Swiss pension funds have continued to cut their allocation to domestic bonds and equities, according to a report from Credit Suisse.
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External boards key for small schemes - AZL
NETHERLANDS - Small pension funds could extend their board with external professionals, as a way to guarantee their survival as an independent scheme, says Dutch pensions provider and asset manager AZL.
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IPE Real Estate Awards set for June
EUROPE - The IPE Real Estate Investor Forum and Awards 2006 are taking place at the Amsterdam Hilton on June 1.
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Espoo to recruit six fund managers
FINLAND - Finnish city, Espoo, is scouting for investment teams to manage a new €364m fund being created.
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CalPERS names ex-DeAM’s Read as CIO
GLOBAL – The California Public Employees' Retirement System has appointed former Deutsche Asset Management deputy chief investment officer Russell Read as CIO of the $208bn (€169bn) public pension scheme.
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Austria: asset management degree offered
AUSTRIA – An advanced technical college in Vienna is offering a new master of science degree for quantitative asset management from this autumn.
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AP4 to go passive for emerging markets
SWEDEN – The SEK180.2bn (€19.2bn) Fourth Swedish National Pension Fund, or AP4, is “likely” to use a passive rather than active approach when it invests 3% of its assets in emerging market equities.
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CalSTRS, CalPERS build new manager database
US – US pension fund giants CalSTRS and CalPERS are putting together a database of emergent asset management companies in a bid to gain access to “untapped talent”.
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Philips scheme in Amsterdam real estate buy
REAL ESTATE – The Philips Pension Fund has acquired Amsterdam Symphony, a real estate project in Amsterdam’s main new real estate project called Zuid As (This article originally appeared on www.iperealestate.com).
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Germany’s BVV eyes real estate, private equity
GERMANY – BVV, a €17.7bn pension fund serving Germany’s financial services industry, plans to raise its exposure to real estate to at most 8% over the long-term and is mulling an initial investment in private equity.
