Real Estate – Page 120
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UK funds "post 13% negative return"
UK - Deutsche Bank-owned consultancy the WM Company calls the situation “severe” as UK pension funds post a negative return of almost 13% in the three months to the end of September 2002.
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Dundee seeks specialist manager for bond mandate
UK - Dundee City’s £775m (e1.21bn) Tayside superannuation fund is tendering for a fund manager to manage a £93m bond mandate. The scheme joins the latest in a line of UK funds switching from a balanced strategy to a specialist strategy.
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Essex takes specialist route for e2.35bn fund
UK - Essex County Council has restructured its £1.5bn (e2.35bn) pension fund resulting in eight new specialist mandates, and costing Merrill Lynch its balanced active mandate.
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European cross border property business flourishes
EUROPE- Europe is the preferred location of global cross-border investment activity in real estate, according to international property adviser DTZ, which predicts continued growth in the sector over the next five years.
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BH&S to launch high-yield property income fund
UK – Property asset manager Baring Houston & Saunders (BH&S) hopes to raise £250m (e396m ) to £300m for its new high-yield property income fund.
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Russian pension reform opportunity for managers
RUSSIA - Pension system reforms in Russia and the CIS could open doors to those countries for foreign fund managers.
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Aberdeen acquires Finnish property investor
UK - Aberdeen Property Investors says it will increase its presence in the Nordic region with the acquisition of Antilooppi Oy, the property management company of Finland’s largest institutional property investor, Ilmarinen Mutual Pension Insurance Company
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Threadneedle wins e32m mandate from DuPont
UK - Threadneedle Investments, part of Zurich Financial Services Group, has been awarded a e32m UK equity mandate on behalf of Dupont SA.
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Henderson to open up in Switzerland
SWITZERLAND- Henderson Global Investors has opened an office in Zurich from which it will promote its retail and institutional products and services.
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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.
