Real Estate – Page 90
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German fund association BVI names chairman
GERMANY – Fund industry association BVI has elected Markus Riess, chief executive of dit, Allianz’s retail fund arm, as its new chairman for the next three years.
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Railpen chief resisting flight to bonds
UK – Chris Hitchen, chief executive of the £15.5bn (€23bn) Railways Pension Trustee Co., Railpen, says that pension schemes’ shift to fixed income was an “overreaction”.
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Hermes names head of commercial real estate
UK - Hermes, the asset manager owned by the BT Pension Scheme, has named Arlington Property Investors' Tim Turnbull as head of commercial real estate.
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Morgan Stanley asset management chief exits
GLOBAL – Morgan Stanley says Mitchell Merin is to retire as president and chief operating officer of its investment management arm.
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Russell predicts new alternative investing highs
GLOBAL – Hedge fund use by European institutions has increased dramatically in 2005. Their use by continental respondents to the Russell Investment Group’s seventh annual report on alternative investment the doubled to 48% from 24% in 2003.
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ING Real Estate chief quits over Polish complex
POLAND – Paul Trip, chief executive of development at ING Real Estate, has quit over problems at a shopping complex in Warsaw.
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Pelle joins former MN colleagues at boutique
NETHERLANDS – Willem-Jan Pelle, the former head of legal and fiscal affairs at MN Services, has joined the new boutique set up by his former colleague, Erwin Stouthamer.
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TKP Pensioen real estate head retires
NETHERLANDS - TKP Pensioen’s head of real estate investments, Koos Gerlofs, has retired.
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IPE-QUEST: Two new searches
EUROPE – There are two new searches, for Asia-Pacific equities and pan-European real estate, on IPE-QUEST.
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South Yorkshire in corporate governance tender
UK – The £3bn (€4.4bn) South Yorkshire Pensions Authority has tendered for a corporate governance advisor.
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UK Universities scheme backs Fprop with £50m
UK – The £20bn (€29bn) Universities Superannuation Scheme, the UK’s second largest pension fund, has awarded a £50m mandate to property asset manager First Property Group.
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Dutch real estate boost seen amid FTK, ageing
NETHERLANDS - The ageing of the population, and the new financial assessment framework, or FTK, will lead to a considerable increase of pension funds’ investments in real estate, says the Dutch weekly Beleggers Belangen.
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AP3 eyes more portfolio diversification
SWEDEN – Tredje AP-fonden, the Third National Pension Fund or AP3, says it plans more diversity in its portfolio – including areas such as emerging markets, international real estate and infrastructure.
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Irish postal scheme in €1.6bn revamp
IRELAND – The €1.6bn pension scheme of the Irish postal service An Post has restructured its manager roster with the help of consulting firm Mercer.
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Threadneedle names Nordic distribution head
NORDIC – Threadneedle Investments has named Thomas Berglund as head of Nordic distribution, responsible for the developing the firm’s business in Sweden, Norway, Denmark and Finland.
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Skanska scheme taps Standard Life for bonds
UK – The £210m (€308m) pension fund of construction company Skanska UK has invested £80m to fund a pooled specialist UK bond portfolio with Standard Life Investments.
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Reuters awards custody to Bank of NY in revamp
UK - The £650m (€953m) Reuters Pension Fund, the main UK scheme of the news and data group, has awarded a custody mandate to the Bank of New York after a revamp.
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Low rates hit German industry schemes
GERMANY - German industry schemes known as Versorgungswerke have reported a slight decline in the annual return on their investments owing to low interest-rates.
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Delta Lloyd hit by €240m mandate loss
NETHERLANDS – Delta Lloyd says its flow of new investments “fell back” in the first half – partly due to the withdrawal of a €240m mandate.
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Danica Pension makes 8.5% return in first half
DENMARK – Danica Pension, the pension and life insurance arm of Danske Bank, made an 8.5% return on assets in the first half of 2005.
