Real Estate – Page 114
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AP4 not satisfied with performance vs. benchmark
SWEDEN – The fourth national pension fund Fjarde AP-fonden, or AP4, says its performance against its benchmark in the first half of the year was “unsatisfactory”.
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UK public sees property providing pensions
UK – Around 40% of the British public say their residential property investment will provide them with an income in retirement, according to a new report. This view is most entrenched among younger people.
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Credit Suisse AM sees asset-allocation role
EUROPE – Institutional investors will increasingly seek asset-allocation advice from their fund managers rather than from their consultant, believes Credit Suisse Asset Management.
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Institutions lift German spezialfonds investment
GERMANY – Institutional investment into German spezialfonds increased in the second quarter of 2003, according to new statistics from the BVI Bundesverband Investment and Asset Management.
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Blue Sky Group backs new Kempen property fund
NETHERLANDS – Blue Sky Group, the manager of the pension assets of Dutch airline KLM, has been the first to sign up to Kempen Capital Management’s European real estate fund.
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Jones Lang LaSalle Europe chief to retire
EUROPE – The European chairman of property firm Jones Lang LaSalle, Robin Broadhurst, is to retire following a decline in revenues in the region.
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European commercial property “slowing down”
EUROPE – Commercial property investment in Europe is slowing down and will be about 10% less than in 2002, according to Jones Lang LaSalle.
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Aberdeen cancels sale of property arm
UK – Aberdeen Asset Management has announced it will not sell Aberdeen Property Investors to British Land Co. and that it will retaining the business.
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Hackney seeks actuary and property manager
UK – The London borough of Hackney is looking for an actuarial consultant and a property fund manager for its 340 million-pound (486 million euro) pension fund.
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Jupiter under scrutiny in Somerset revamp
UK – Somerset County Council’s 600 million pound (855 million euro) pension fund has put out two tenders for a UK bond mandate and a UK property manager of managers mandate following an overhaul of its investment strategy.
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Morley wins E2.9bn in new mandates
UK – Morley Fund Management has won two billion pounds (2.9 billion euros) of new external mandates this year so far – up one billion pounds on the same period last year.
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AXA asset management revenues slip 12.3%
FRANCE/US – AXA Group’s asset management subsidiaries’ revenues declined by 12.3% over the first half of 2003.
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M&G gains almost E1bn in institutional funds
UK – M&G says it saw net institutional fund inflows of 704 million pounds (996 million euros) in the first six months of 2003.
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UBS GAM global investment chief to retire
GLOBAL – The global chief investment officer of UBS Global Asset Management, Jeffrey Diermeier, is to retire.
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UBS GAM boosts European property team
EUROPE - UBS Global Asset Management has boosted its continental European real estate team with the recruitment of three executives from property firm Lend Lease.
