Real Estate – Page 92
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Analysts welcome Deutsche Asset Management exit
UK - Deutsche Bank watchers have welcomed this morning’s announcement that virtually all of Deutsche Asset Management in the UK will be sold to rival Aberdeen, noting that the move gives Deutsche an elegant exit from the business.
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CalPERS invests €21.7m in Californian vineyards
US – CalPERS, the largest US pension fund, has bought Californian vineyards for $26m (€21.7m) – looking for a return above 16%.
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Dutch schemes in $175m US real estate deal
NETHERLANDS – Pensions management company MN Services says it has entered into a real estate joint venture with US company Fairfield Residential on behalf of two Dutch pension funds.
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DeAM Germany chief Behrens quits to join Deka
GERMANY – Oliver Behrens, head of Deutsche Asset Management in Germany, is to join the management board of fund provider DekaBank.
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BT scheme eyes commodities by end-2005
UK – The £50bn (€74.2bn) pension scheme of phone firm British Telecom may allocate a “single figure” percentage of its assets to commodities from its equity portfolio by the end of the year.
