Real Estate – Page 98
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Commodities now the only ‘pure bull market’
GLOBAL - The only place where there is currently a pure bull market is in commodities, investment guru Jim Rogers told the SuperHedge conference today.
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Germany’s Babcock Pensionskasse removes CEO
GERMANY - Babcock Pensionskasse, the €460m pension fund of failed engineering firm Babcock, has stripped chief executive Günter Schulze of his responsibilities, sources say.
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Finland’s Varma earns 8% return in 2004
FINLAND – Varma, Finland’s largest private sector pension insurer, made an eight percent return on investments in 2004 - but said it would continue to “rationalise” its operations.
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German dentists hire Alpha as consultant
GERMANY - VZB, a Berlin-based pension fund for dentists, says it has hired Alpha Portfolio Advisors as its new investment consultant for its €700m portfolio.
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ING loses 10% of institutional assets in revamp
NETHERLANDS – ING’s asset management arm lost €13.8bn, or more than 10%, of its institutional assets under management in the last three months of 2004 - due to the reclassification of assets and a disposal.
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DeAM, SSGA, BGI lose Shropshire mandates
UK – Deutsche Asset Management, State Street Global Advisers and Barclays Global Investors have lost equity mandates worth a combined £160m (€231m) after a shake-up at Shropshire County Council Pension Fund.
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Ex-Isis institutional chief joins boutique
UK - Howard Daldorph, the former director of institutional funds for ISIS, has joined a boutique called Reabourne Technology Investment Management as marketing director, a new role.
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New hires at Swiss consultant Ecofin
SWITZERLAND - Ecofin, one of Switzerland’s largest investment consultants, has brought in a pair of new senior advisers and, for the first time, has opened itself up to private banking clients.
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Germany’s BVI sees more institutional outsourcing
GERMANY - Providers of German institutional funds, or Spezialfonds, are increasingly outsourcing the management of their assets, according to new statistics from the BVI, Germany’s fund industry association.
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Ireland’s NPRF to put 18% into new asset classes
IRELAND – The €11.69bn National Pensions Reserve Fund has targeted an 18% allocation to property, private equity and commodities by 2009 – but it will not invest in hedge funds for the moment.
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Ireland’s CFOPS outlines shift to specialists
IRELAND – The administrator of the €540m Construction Federation Operatives Pension Scheme has outlined the scheme’s move from balanced managers to specialists.
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Credit Suisse property fund tops volume target
SWITZERLAND – Credit Suisse said its new International Real Estate Fund has exceeded its original issue volume target of CHF500m (€322m) by 17%.
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BNP Paribas aims to raise AUM by €50bn
FRANCE – BNP Paribas is targeting a €50bn increase in assets under management by 2007 – coming on top of an 8.3% rise in AUM last year.
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Insight outsources 90 jobs to Northern Trust
EUROPE - Insight Investment is to outsource its middle and back office investment operations to Northern Trust - with up to 90 staff transferring.
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Henderson’s Benelux director Go leaves
NETHERLANDS – Paul Go, asset manager and director Benelux of Henderson Global Investors in Amsterdam, has left.
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MP quizzes Swiss postal scheme
SWITZERLAND- A Swiss MP who last month questioned finance minister Hans-Rudolf Merz on the Pensionskasse Post postal scheme has said he is prepared continue the debate.
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France’s €5bn Cancava in scheme revamp
FRANCE – The €5bn pension fund Caisse Nationale d’Assurances Vieillesse des Artisans, Cancava, has appointed 10 equity managers amid a revamp which saw eight of its former managers dismissed over poor performance.
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German fund body defends hedge funds
GERMANY – The head of the German fund industry association BVI has dismissed the view that hedge funds have flopped in Germany.
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UK’s Enfield seeks investment consultant
UK – The £370m (€525.9m) London Borough of Enfield Pension Fund is looking for an independent investment consultant.
