Real Estate – Page 99
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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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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.
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Dutch building scheme backs Aareal fund
NETHERLANDS - The Dutch building workers pension scheme has committed equity on behalf of two pension fund clients to a real estate fund run by Aareal.
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Inarcassa says European equities beat benchmark
ITALY – Inarcassa, the €2.7bn association for self-employed engineers and architects, said its European equity portfolio outperformed its benchmark by 5.63% in 2004.
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JP Morgan eyes profitable German mandates
GERMANY – The head of JP Morgan Fleming in Germany says that winning profitable mandates is the firm’s top priority.
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MN Services names Dutch real estate chief
NETHERLANDS – E24bn investment management company MN Services has named George van Hooydonk as head of its Real Estate Netherlands unit.
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Two Dutch schemes back real estate fund Altera
NETHERLANDS – Physiotherapists’ fund SPF and the pension fund of Cindu International in the Netherlands have invested E22m in Altera Vastgoed, the E1bn private real estate fund has said.
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UBS sees consolidation in Swiss property market
SWITZERLAND – Pointing out that the number of real estate investment funds has fallen sharply in the last few years, UBS says the sector is now showing signs of “consolidation”.
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MN Services’ real estate head Stouthamer quits
NETHERLANDS – Erwin Stouthamer, head of international real estate at asset liability manager MN Services has left the company, it emerged today.
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UK councils tender bonds, equities and property
UK - Northamptonshire, Essex and North Yorkshire County Councils have put out requests for tenders for equity, bond and real estate portfolios worth a total of more than £500m (€715.5m).
