Real Estate – Page 119
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German institutions slash equity holdings to 19%
GERMANY- German institutions have decreased their asset allocation to European stocks from an aggregate 27% to 19% over the last two years, according to a survey by US-based consultants, Greenwich Associates.
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Management fees in Europe set to fall
EUROPE- Average gross fees are expected to decline across Europe’s asset management industry at a rate of 2% a year over the next four years, according to consultant Oliver, Wyman and Company and UBS Warburg.
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European investment fund market drops 6.7% in Q2
EUROPE- Combined assets of the Europe’s investment fund market fell 6.7% during the second quarter of this year, resulting in a 2.9% decline for the first half, according to FEFSI, the pan-European federation of investment managers associations and companies.
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Dutch group SFB in third party business push
NETHERLANDS- SFB Groep, the e20bn Dutch outfit that oversees the Dutch builders’ pension assets, is pushing ahead with marketing itself as a third party provider of asset management and pension fund administration. The group has a five year strategy over which it intends to market its services to third parties ...
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PGGM names new head of alternative investments
NETHERLANDS- PGGM, the e47bn pension fund for the health care and social work sector, has promoted its head of real estate Jan van der Vlist to oversee its alternative investments.
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ING reorganises asset management into regions
GLOBAL- ING Investment Management is to be introduced in ING’s regional businesses in the Americas, Asia/Pacific and Europe in a move that sees it rearranged along a regional basis.
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Sweden's AP2 drops 9.3% in six months to June
SWEDEN- Sweden’s second national fund AP2 has announced a first half decline in assets of 9.3% bringing the fund to Sek124.3bn (e13.6bn).
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Denmark's ATP shifts e2.9bn from equities to bonds
DENMARK- ATP, the DKK212.7bn (e28.7bn) Danish labour market supplementary pension scheme, has reduced its portfolio allocation in equities from 45% to 35% following negative second quarter results. During this period the listed equity portfolio lost 12.3%.
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UK railway fund to increase private equity holding
UK- Railpen, the UK railway £13bn (e20.3bn) pension scheme, is to increase its allocation to private equity from 2% to 5%, taking the level of investment from around £400m (e626m) to £750m (e1.17bn).
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Record e51bn leaves US equity funds in July
US- A record $50bn (e51.3bn) was removed from US equity funds in July according to estimates released by mutual fund research company, Lipper, illustrating the extent to which investor nervousness has reached. The previous record monthly outflow was around $30bn in September last year triggered by the events of 11th ...
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Shake up at US fund sees Rogge lose e611m mandate
US- A complete overhaul of asset allocation at the Illinois teachers’ retirement system (TRS) has thrown two mandates out to tender and led the fund to drop Rogge Global Partners from a $594m (e611m) international fixed income mandate.
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Aon gets go-ahead for multi manager OEIC
IRELAND- Aon consulting has received regulatory approval for its new Dublin-based open ended investment company, Aon Investment Company. Registered in Dublin, the OEIC will operate from London and provide an integrated service combining investment consulting advice with a manager of managers approach.
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Greenwich tenders entire e750m fund
UK- The London Borough of Greenwich pension fund has tendered its entire £480m (e749m) portfolio, currently managed by Schroders and Deutsche Asset Management.
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CSAM adds to its UK institutional team
UK- Credit Suisse Asset Management has announced the appointment of Annabel Stephens who is joining the UK institutional marketing team. Stephens, who joins from Barclays, will be responsible for pooled pension fund client servicing and for consultant relations.
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S&P says prospects for European property are poor
EUROPE- Falling rents and rising vacancy rates across in Europe over the past six months mean the outlook for the real estate sector remains negative despite low interest rates and high capital values, according to Standard & Poor’s.
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Risk is key investor concern in manager selection
EUROPE – Risk control is now the most important factor investors consider when employing external asset managers, according to the latest Invesco annual survey of European institutional investors and their markets. In sharp contrast, risk control didn’t even figure in the top six factors in 2000.
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Stoiber promises to simplify Riester pensions
GERMANY – Edmund Stoiber, the conservatives’ candidate for chancellor in this autumn’s elections, has promised to simplify the new private Riester pension schemes if elected. Stoiber says the reforms have created a "bureaucratic monster."
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Half of UK workers unworried about pensions income
UK – Over half the UK’s working population in not worried about having sufficient retirement income, whilst 54% believe that their employer is responsible for ensuring adequate pension provision, according to research carried out by Hewitt Bacon & Woodrow.
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PRICOA rejigs €195m property fund in Europe drive
UK/EUROPE – London-based PRICOA Property Investment Management, the European arm of New Jersey-based Prudential Real Estate Investors (PREI), has restructured its €195m Pan-European Property Unit Trust fund into an open-ended limited partnership as part of its European expansion.
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Standard Life sales up 42%
UK- Standard Life Investments has defied flat market conditions and issued encouraging first half results. The subsidiary of the life insurer registered sales of £1.7bn in the six months to May, up 42% on the same period last year.
