Real Estate – Page 61
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News
Swiss funds bet on Swiss francs
[16:15 CET 27-10] SSWITZERLAND – Home bias is back in fashion as Swiss funds are turning towards investments in Swiss francs, especially domestic bonds – details of the Credit Suisse Pensionskassenindex reveal.
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NewsAPG pushes forward to meet infrastructure target
[14:00 CEST 22-10] NETHERLANDS – APG, the asset manager of the €193bn ABP pension fund, is pushing forward to meet its infrastructure target of €4.5bn for 2009, despite drying up opportunities in the asset class.
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€7.8bn doctors fund looks for opportunities
[16:50 CEST 20-10] GERMANY – Ärtzeversorgung Westfalen-Lippe (ÄVWL), a €7.8bn regional pension fund for doctors, has withdrawn approximately half of its Spezialfonds investments as it now wants to invest in 'opportunities'.
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NewsBonds better than real estate - study
[16:25 CEST 20-10] SWITZERLAND – Direct real estate investments failed to help Swiss pension funds’ performances in last quarter but quite the contrary dragged returns down compared with earlier periods, according to a study which does not track the impact of property investments.
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Ilmarinen to increase its alternatives focus
[15:00 CEST 09-10] FINLAND – Ilmarinen Mutual, Finland’s second-largest pension provider, is planning to increasing its private equity and property holdings in the coming years as well as diversify its equity holdings, IPE has learned.
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Swiss funds still favour real estate
[16:55 CEST 01-10] SWITZERLAND – Nine out of 10 Swiss pensions funds are indirectly invested in real estate while the majority also directly invest in the market, according to research from real estate investment specialist Sal Oppenheim.
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Dutch institutions shun indirect real estate
[17:15 CEST 26-09] NETHERLANDS – Dutch institutional investments in indirect real estate declined by 17% last year in favour of a growth in direct real estate portfolios, a new report claims.
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Dutch fund seeks global non-listed real estate
[16:00 CEST 11-09] NETHERLANDS – A Dutch pension fund is looking for a global multi-manager to invest €250m in non-listed real estate funds, using IPE-Quest.
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NewsLehman Bros overhauls firm after $3.9bn loss
[16:55 CEST 10-09] GLOBAL – Investment banking giant Lehman Bros is separating its commercial real estate business as a new listed entity and selling a majority stake in its investment management division after yet more writedowns generated a third-quarter net loss of $3.9bn (€2.76bn).
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NewsAnti-fraud guidance unveiled on Dutch real estate
[13:30 CEST 10-09] NETHERLANDS – The Dutch Association of Institutional Property Investors (IVBN) has extended its earlier framework to prevent fraud in institutional real estate investment, as the second Dutch pension fund to be hit in the ‘bouwfraude’ case continues its internal probe.
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Sources confirm Tesco/USS real estate deal
[13:35 CEST 18-08] UK – Sources have confirmed the £30bn (€38bn) Universities Superannuation Scheme (USS), the second-largest pension scheme in the UK, is set to purchase a number of UK supermarket chain Tesco’s largest stores.
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US giant huddles up to London
[16:35 CEST 13-08] UK – Mark Wood, managing director of US pension fund giant TIAA-CREF’s global real estate business, has revealed the newly-launched London office is an attempt to “make sure we are as close to the market as we can be.”
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Operational change at €5.9bn German church fund
GERMANY – The €5.9bn German pension fund for church employees in Rhineland and Westphalia has announced it will restructure its investment operations, while pushing for more alternatives and diversity through indirect real estate.
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TIAA-CREF hunts real estate via London office
[16:00 CEST 12-08] US/UK – The New York-based Teachers Insurance and Annuities Association-College Retirement Equities Fund (TIAA-CREF), the second-largest retirement plan in the US with assets of $420bn (€281bn), has launched its first overseas office in London.
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NewsCost of fraud triples for Philips fund
[15:00 CEST 04-08] NETHERLANDS – The €13.4bn Dutch pension fund of electronics major Philips has executed several sequestrations in relation to its involvement in the recent property fraud, now estimated to have cost the fund €150m.
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News
PMA keeps cover ratio to 185%
[15:45 CEST 31-07] NETHERLANDS - The €1.1bn pension fund for pharmacies’ staff PMA has managed to maintain a cover ratio of approximately 185%, despite experiencing a 23 percentage point drop in the first half of 2008.
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Dutch institutions too relaxed in tackling fraud - FEC
[15:15 CEST 31-07] NETHERLANDS – Financial institutions and service providers do too little to tackle fraudulent real estate transactions in the Netherlands, an official analysis of criminal and supervisory investigations has found.
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LPFA commits to ING’s global real estate FoF
[16:10 CEST 30-07] UK - The London Pension Fund Authority has committed £150m (€190m) of capital to a new global property fund of funds (FoF) launched this week by ING Real Estate Select.
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News
ABP joint venture spends €2.7bn in shopping spree
[16:00 CEST 29-07] NETHERLANDS – The €205bn Dutch pension fund ABP today revealed it now owns Scandinavia’s largest shopping centre owner and developer, Steen & Strøm, after buying the firm in a joint venture for NOK21.9bn (€2.7bn).
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Manchester seeks property agent
[16:30 CEST 03-07] UK – The £9.6bn (€12bn) Greater Manchester pension fund is seeking a new property management firm to manage part of its real estate portfolio.
