Real Estate – Page 81
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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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Mn Services names equities director
NETHERLANDS - Dutch fiduciary management firm Mn Services has named Patrick Wierckx as director of equities.
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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.
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IVG to offer schemes custom real estate vehicles
REAL ESTATE - Bonn-based IVG Immobilien is to target pension funds with bespoke vehicles invested in non-listed real estate – in addition to its growing portfolio of closed-end core, opportunistic and development funds (This story originally appeared on IPERealEstate.com).
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Switzerland’s APK outlines switch to DC
SWITZERLAND – Aargauische Pensionskasse (APK), a CHF4.9bn (€3.1bn) pension fund for Swiss civil servants, plans to fully fund its liabilities by January 1 2008 following several reforms – notably a switch to defined contribution from defined benefit.
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Munich Re’s MEAG rolls out new funds
GERMANY – MEAG, the asset management arm of German re-insurance giant Munich Re, has confirmed the rollout of four new “i-shares” - mutual funds targeted exclusively at institutional investors.
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ABP setting 2007 investment plan
NETHERLANDS – Stichting Pensioenfonds ABP, Europe’s largest pension fund, is currently in the process of establishing its new strategic investment plan to run from 2007 to 2009.
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IPe-symposium: APK to up emerging markets
AUSTRIA – APK, the Austrian multi-employer pension fund, is looking to increase its allocation to emerging market equities and bonds “step by step”.
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Bank of NY launches Poland fund firm
POLAND – The Bank of New York has launched an investment fund company in Poland to tap pension fund demand.
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Ex-Robeco CIO Vriezen to run C&A assets
NETHERLANDS - The former chief investment officer of Robeco, Marnix Vriezen, has taken over the management of the €1bn assets of the pension fund of C&A Nederland, the Dutch arm of the international clothes retailer.
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MEPs reject UCITS for pension directive
EUROPE – Members of the European Parliament’s economic and monetary affairs committee have voted against proposals to bring UCITS investment funds within the scope of the directive on occupational pension funds.
