Real Estate – Page 71
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News
AP3 taps Aberdeen for €221m in real estate
SWEDEN – AP3, the SEK196.1bn (€21.7bn) Swedish buffer fund Tredje AP-fonden, has appointed Aberdeen Property Investors to build a European real estate equity fund portfolio worth SEK2bn (€221m).
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MEPs’ fund goes into real estate
EUROPE – The €190m (£127.85m) Members of European Parliament Pension Fund is moving away from bonds in favour of euro-zone property to increase the diversification within its portfolio.
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German accountants’ fund to go into alternatives
GERMANY – WPV, an €850m pension fund for chartered accountants, will make inaugural investments in alternative asset classes from 2007, targeting a quota of up to 5%, according to managing director Hans-Wilhelm Korfmacher.
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ABP scales down stake in real estate group
NETHERLANDS - The €201bn civil service pension fund ABP has decreased its majority stake in real estate group Vesteda to 46.7%, Vesteda said.
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Dutch institutions’ raw materials appetite grows
EUROPE – Dutch institutional investors such as pension funds have a growing appetite for raw materials, so far they have invested already around €20bn (£13.5bn) in the asset class reports show.
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Newham fund diverts into infrastructure
REAL ESTATE - The London Borough of Newham pension fund is to invest £30m (€45m) in infrastructure. The investment, which follows a strategic review and is the fund’s first in infrastructure, reflects a desire to influence the beta aspects of the fund and the search for a guaranteed long-term return.
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Shropshire fund moves out of UK property
REAL ESTATE - Shropshire County Council pension fund is seeking an investment manager for a £43m (€63.7m) pan-European real estate portfolio.
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IPE AWARDS: Full list of winners
IPE AWARDS – Below is the full list of winners of the 2006 IPE Awards, held today in Paris:
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News
Irish schemes shun alternatives - IAPF
IRELAND – Alternative assets such as hedge funds, private equity and currency are “generally unpopular” with the trustees of defined benefit pension funds in Ireland, says the Irish Association of Pension Funds.
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News
USS buys into Bulgarian real estate developer
REAL ESTATE – The £26bn (€38.5bn) Universities Superannuation Scheme, the pension fund for university staff, has made a move to increase it Eastern European real estate holdings.
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PWC names global investment management head
GLOBAL – PricewaterhouseCoopers has named Marc Saluzzi as the new global head of its investment management and real estate group.
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ABP’s role at real estate firm Corio queried
NETHERLANDS – Dutch pension giant ABP risks being drawn into a row over the management of real estate firm Corio, in which it has a 39% stake.
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Cordares eyes international property pooling
REAL ESTATE - Pensions provider Cordares says it’s considering setting up direct real estate pooled funds with pension funds abroad as a way to diversify risks.
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Real estate ripe says Schroders' Brown
REAL ESTATE – The real estate market is “ripe” for a more global investment approach, says Schroders’ investment chief Alan Brown.
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Shetland Islands tenders for UK real estate
REAL ESTATE - The Scottish Shetland Islands local authority pension fund is to hire a real estate investment manager to invest £20m—40m (€29.7m—59.3m) in UK property.
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Mercer: patience a virtue in infrastructure
GLOBAL – Investment consulting firm Mercer is telling its pension fund clients that patience and due diligence are virtues when it comes to investing in infrastructure.
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USS backs new student housing fund
UK – The Universities Superannuation Scheme is among the institutional backers for a new £515m (€764m) student accommodation fund being launched by real estate firm Unite Group.
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Features
Three steps to heaven
An increasingly broad fund offering has produced a potential nightmare for investors faced with comparing and assessing the tax, legal and regulatory frameworks. John Forbes advocates a structured approach
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Features
A listless market?
Institutional investors are flocking to the non-listed, offshore real estate fund market, attracted by flexibility and tax advantages. For many though, there are not enough opportunities. Maha Khan Phillips reports
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Features
Too much control?
A heavy bias towards investing locally – and directly – is a hallmark of Swedish institutional investment in real estate. Martin Hurst examines why
