Real Estate – Page 111
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News
DeAM names UK business section heads
UK – Deutsche Asset Management, the second largest manager of European pension assets, has named the heads of its seven new “business streams”.
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DeAM set to unveil heads of UK product teams
UK – Deutsche Asset Management, the second largest manager of European pension assets, is set to unveil the heads of its planned seven new UK investment teams soon.
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Sweden’s AP3 makes total return of 16.2%
SWEDEN – AP3 says its total return in 2003 was 16.2%, taking its value to 142.5 billion crowns (15.5 billion euros).
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PGGM lobbying against Staatsen proposals
NETHERLANDS – PGGM says it is lobbying against proposed curbs to pension funds’ non-core activities, saying it has three main concerns – on exit strategy, timing and the role of the regulator.
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Philips pension fund moves away from equities
NETHERLANDS - The 12.5 billion-euro Dutch pension fund of electronics company Philips is targeting an allocation of 38% equities in 2004 - down from 46% in 2002.
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CIOs see 32% rise in hedge fund assets
EUROPE – The chief investment officers at European and US investment managers expect a 32% rise in hedge fund assets under management in the next year, according to a new survey.
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Invesco buys stake in HVB real estate arm
EUROPE - Invesco Real Estate has bought around a 75% stake in the 3.5 billion-euro institutional real estate investment arm of Germany’s Hypovereinsbank (HVB) in a deal believed to be worth between 30-50 million euros.
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Finnish pension assets rise to E78.6bn - TELA
FINLAND – Total Finnish pension assets, which includes pension funds, insurance companies and pension foundations, have risen to a total 78.6 billion euros at the end of 2003, from 70.9 billion euros at the end of 2002, the Finnish Pension Alliance, TELA, said.
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Abbey confirms job losses in outsourcing plan
UK – Abbey National has confirmed that jobs will go as it plans to outsource most of the in-house fund management of its 29 billion-pound (42 billion-euro) portfolio.
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Standard Life names Benelux investment chief
EUROPE - Standard Life Investments has named Pat Woods as investment director for Benelux while Jennifer Richards takes over from him in the same role in Ireland.
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AXA to launch European real estate ETFs
EUROPE - AXA Real Estate Investment Managers is to launch the first ever exchange traded funds in Europe focusing on real estate.
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European institutions buy into DB real estate
EUROPE – Deutsche Asset Management has sold a 1.2 billion-dollar (940 million-euro) real estate fund to a group of European and US institutional investors and wealthy individuals.
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Jones Lang LaSalle CEO Peacock resigns
GLOBAL – Chris Peacock has resigned as president and chief executive of real estate firm Jones Lang LaSalle to “spend more time with his family”.
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ING aims at E1bn with new real estate fund
NETHERLANDS - ING says it is aiming at one billion euros with a new real estate fund targeting retail properties in France and Belgium
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Real estate is right for Europe's pension funds - Prudential
EUROPE – Real estate has the right characteristics to meet to meet the goals and objectives of European pension funds, according to US group Prudential Real Estate Investors.
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DeAM says it rejigs UK client team
UK - Deutsche Asset Management has rejigged its UK client relationship team after the departure of Simon Peck and Roger Morris.
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US-style real estate trusts seen in the UK
EUROPE - US-style publicly quoted real estate investment trusts should be available in the UK within the next few years, according to property expert Alex Catalano.
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IPD: pension funds risk-averse on property
UK - Life and pension funds are the most risk-averse of UK real estate investors, a conference in Brighton was told today.
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Features
Fund aims for 5% real estate share with overseas focus
To bring diversification into ATP’s overall investment portfolio, approximately 4.3% has been invested in property – equivalent to €1.4bn. The strategic goal is to reach a 5% allocation (+/– 3 percentage points) in property by the end of 2003. Until the beginning of 2002, ATP invested solely in Danish real ...
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European office real estate slump set to continue
EUROPE – European office real estate markets have suffered a sustained downswing which will continue in Western Europe until 2005, says the real estate investment arm of the Allianz Group.
