Real Estate – Page 109
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MN says it wins E50m SPW real estate brief
NETHERLANDS – MN Services says it has been awarded a 50 million-euro international real estate mandate by Dutch housing fund SPW.
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AP2 backs more transparent EU hedge rules
SWEDEN – The head of fixed income and alternative investments at the 140.4 billion-crown (15.3 billion-euro) Andra AP-fonden has welcomed moves to a more transparent hedge fund framework.
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Sweden’s AP1 to look at hedge funds
SWEDEN – The 139 billion-crown (15.2 billion-euro) Swedish buffer fund Första AP-fonden says it plans to research hedge funds.
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Dutch railways pension CIO Groeneveld to retire
NETHERLANDS - Ton Groeneveld, chief investment officer of SPF Beheer, which administers the 10 billion-euro Spoorwegpensioenfonds railway pension fund, is to retire.
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Salamin leaves Swiss social security fund AVS
SWITZERLAND - Dominique Salamin has left Switzerland’s 25 billion-Swiss franc (16.7 billion-euro) social security fund Assurance Vieillesse et Survivants, or AVS.
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Netherlands: Staatsen proposals under scrutiny
NETHERLANDS – The Staatsen proposals, which could curb Dutch pension funds’ ‘non-core’ activities, have been examined by a Dutch parliamentary committee.
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Denmark’s ATP names Nielsen as real estate MD
DENMARK – Michael Nielsen has been named as the new Managing Director of ATP Ejendomme, the real estate arm of Denmark’s largest pension scheme, the 38 billion-euro ATP Danish labour market pension plan.
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Monte Paschi and Hines in Italian property fund tie-up
ITALY- Monte Paschi Asset management SGR, the asset management branch of the bank Monte dei Paschi di Siena has formed an alliance with international real estate manager Hines to create a ‘value-added’ fund for institutional investors called MH Real Estate Crescita.
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State Street’s new Milan office to target funds
ITALY - State Street has opened an office in Milan with an eye to servicing Italy’s 500 billion euro investment funds industry, as part of its Deutsche Bank securities services deal.
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Switzerland’s PUBLICA names new director
SWITZERLAND - The 28 billion-Swiss franc (18 billion-euro) Swiss Federal Pension Fund PUBLICA has named Werner Hertzog as director.
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AP3 invests E38m in new forestry group
SWEDEN – Tredje AP-fonden has bought a 4.9% stake in new Swedish forestry group Bergvik Skog for around 350 million crowns (38 million euros).
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Real estate manager PRICOA in MBO from Prudential parent
London-based PRICOA Property Investment Management (PPIM) has confirmed that it is in discussion with US parent company Prudential Real Estate Investors about a management buy-out (MBO) of the European operations.
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Budget Special - UK moves towards introduction of REIT structure
UK Budget Special - The UK has moved a step closer to the introduction of a version of US Real Estate Investment Trusts (REITs)..
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VB may take government to court over Staatsen
NETHERLANDS - The VB, the Dutch Association of Industry-wide Pension Funds, says it may have to take the Dutch government to court if it decides to introduce a form of quantitative investment restrictions for Dutch pension funds as part of the findings of the Staatsen Commission.
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Clifford Chance sets up REIT group
UK - Law firm Clifford Chance says it has set up a group to focus on UK real estate investment trusts, or REITS.
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SEB says new pension standard to hit profit
SWEDEN – SEB estimates new pension accounting standards will hit 2004 profit by around 250 million crowns (27.2 million euros).
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Unigestion appoints new French chairman
France - European alternative asset manager Unigestion has appointed Gérard Pfauwadel, a former managing director of insurer AGF, as chairman of its French subsidiary, Unigestion Asset Management (France).
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European investment funds rise 12% - FEFSI
EUROPE – The combined assets of the European investment fund market rise by 12% in 2003, said industry body FEFSI.
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AXA IM adds E9.5bn in new institutional business
EUROPE - AXA Investment Managers had a net inflow of 9.5 billion euros of institutional business in 2003.
