Real Estate – Page 120
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Länsförsäkringar CFO sets up new alternatives firm
SWEDEN – Bo Ennerberg, the chief financial officer of Stockholm-based asset management company, Länsförsäkringar, has left the company to start his own alternative asset management company. Only property is now managed inhouse at Länsförsäkringar...
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Scottish Widows appoints head of US business
UK/US- Edinburgh-based asset management company, Scottish Widows Investment Partnership (SWIP) has appointed John Griffith as head if its North American business as part of the firm’s strategy to expand its business in the region.
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Hermes invests in new Osprey property fund
UK – Hermes Property Asset Management and Bank of Scotland Corporate Banking are among the investors in the newly-established Osprey Limited Partnership, a high-yielding, commercial property fund with a target size of £300m (€485m). The fund starts life with an initial investment of £12m but the amount invested by Hermes ...
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Essex fund seeks managers for e1.5bn
UK – The Essex County Council pension fund is looking for managers for £945m (€1,530m) of its £1.8bn assets, including a passive multi-asset equity and bond mandate worth some £620m and a predominantly UK fixed income mandate worth £140m.
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NAPF and APUT launch property best practice code
UK- Investment in property is set to become more transparent following the launch in London by the National Association of Pension Funds (NAPF) and Association of Property Unit Trusts (APUT) of a new code of best practice for the management and accountability of property funds.
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Yorkshire hands e900m to Schroders and Western
UK – The £865m (€1,407m) Yorkshire Electricity Group pension scheme has carried out a strategic asset allocation review that has led to the appointment of Schroders and Western Asset Management to run two new £280m (€455m) sterling fixed income mandates.
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UK budget is bad news for property investors
UK – Changes to stamp duty on commercial property announced in chancellor Gordon Brown’s budget will lead to growth in the property unit trust market according to Tim Bell, director of property at F&C Management in London.
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Boots buys £200m of inflation-linked assets
UK- Boots’ £2.4bn pension fund has purchased £200m worth of inflation-linked investments in a bid to improve the match between assets and liabilities. The purchase follows the fund’s decision last October to sell its entire equity holdings and move the proceeds into fixed income. At the time critics said the ...
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AP4 tenders $600m in Asia and Japanese equities
SWEDEN- Sweden’s Skr130bn (e14.3bn) AP4 fund has announced the tendering of Asia Pacific-ex Japan and Japanese equity mandates worth up to a total of $600m (e682m). The fund is to appoint several firms to oversee the mandates, deadline for applications is May 11th and appointments should be announced some time ...
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Threadneedle relocates UK property fund to Jersey
JERSEY/UK- Threadneedle Investments has formed the Threadneedle Property Unit Trust by relocating the former Sackville Property Unit Trust from the UK to Jersey. Prior to the switch, the £110m fund was only open to UK pensions and charities. The move to Jersey will open it to a broader range of ...
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Powys seeks investment managers for £80m
UK – The £160m (€260.7m) Powys County Council pension fund in Wales is looking for asset managers for a £48m active fixed income mandate and two £16m active equity mandates. John McNeil, head of finance at the fund, says the RFP has come about because the fund grew unhappy with ...
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IKA considers external managers for e1.8bn
GREECE- Greece’s largest pension fund, the Social Security Foundation (IKA), is considering the use of external investment managers to manage E1.8bn of its assets.
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Aberdeen names Nielsen head of new Danish venture
DENMARK- Aberdeen Property Investors is expanding into the Danish market and has recruited Tonny Nielsen to head the Copenhagen office it is opening next month.
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Credit Suisse rebrands Sun Life Financial business
UK- Credit Suisse Asset Management is rebranding the three Sun Life Financial Asset Management companies it acquired last December.
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Schemes' UK equity holdings lowest since 1983
UK- Holdings in domestic equities by UK pension funds has fallen below 50% for the first time since 1983 according to the 2001 Russell/Mellon CAPS pension fund survey. The 1651 UK funds surveyed by Russell/Mellon held an average of 47.4% of their assets in UK equities, down from 51%at the ...
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Lasalle retains €4.2bn property portfolios
UK – The £36.7bn (€59.5bn) British Coal Staff Superannuation Scheme and the Mineworkers’ Pension Scheme have re-appointed Lasalle Investment Management to run their combined £2.6bn (€4.2bn) property portfolios.
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German funds see rebound in January
GERMANY – German investment funds open to the public pulled in investments of €10.2bn in January, according to the Frankfurt-based BVI, the German federal asset manager association. The BVI says that this is a good start to the year.
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RREEF buy makes Deutsche largest property adviser
US/GERMANY – Deutsche Bank (DB) is to acquire US real estate investment management company, RREEF, for $440m (€500m),. According to DB, the deal means the group will become the world’s largest investment adviser of combined real property and real estate equity securities, with $36bn in global real estate assets under ...
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Euro funds manage slight rise in assets in 2001
EUROPE – Renewed interest among European investors in equities led to an increase in the total assets of UCITs and other nationally regulated investment fund markets of 8.3% during the fourth quarter of 2001, bringing the year end total to €4,594bn...
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Spezialfonds’ assets fall in 2001 to €507bn
Germany-The value of German Spezialfonds invested assets fell in 2001 by 1.4% to €506.9bn, their first fall in the 33-year long history...
