Real Estate – Page 80
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Belgium prepares for pan-European schemes
BELGIUM – The Belgian government has reiterated its desire to become a pan-European pension fund domicile ahead of a new control law on the matter.
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Union Investment offers overtime accounts
GERMANY – Union Investment has become the latest German fund manager to offer so-called ‘overtime accounts’ – a vehicle that can be used by employees to finance early retirement.
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Swiss teachers fund BLVK rejects legal action
SWITZERLAND – The CHF4.6bn (€2.95bn) Berne teachers pension fund BLVK says it won’t take legal action against those deemed responsible for its financial woes – despite calls from members.
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IMA creates new role of head of tax
UK – The Investment Management Association has created a new role of head of tax to help it deal with a higher workload in the area.
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Schroders scheme ups property allocation
REAL ESTATE - Schroders has shifted its £500m (€733m) pension fund towards UK commercial real estate – with investment head Alan Brown slamming the “transparently wrong” assumptions underpinning asset/liability modelling.
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NAPF’s Ellison to chair IPE Real Estate event
NETHERLANDS – National Association of Pension Funds chairman Robin Ellison is to chair IPE Real Estate’s Investor Forum & Awards in Amsterdam on June 1.
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Morley launches real estate trading facility
REAL ESTATE - Morley Fund Management has unveiled a UK “trading facility” for its own unlisted real estate funds. (This article first appeared on www.iperealestate.com)
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German Spezialfonds grow by €46bn – BVI
GERMANY – Investor inflows to German institutional funds (Spezialfonds) in the year to March 31 totalled €46bn, helping to bring the total volume of these funds to €635bn, according to German fund industry association BVI.
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UK’s Kent County Council rejigs manager roster
UK - The roughly £2.3bn (€3.4bn) Kent County Council pension scheme has axed Goldman Sachs Asset Management from a roughly £350m UK and overseas equities mandate amidst a strategic asset reshuffle at the scheme.
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IPE-QUEST: European fund tenders real estate
EUROPE – A continental European corporate pension fund has tendered substantially in excess of $100m (€78m) in indirect global real estate via IPE-Quest.
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German pension funds face Solvency II regime
GERMANY – Financial services regulator BaFin says it wants to apply parts of the Solvency II insurance regime to certain German pension funds, regardless of whether a future EU directive requires this or not.
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Hymans sees shift to global equities, bonds
UK – The UK’s 50 largest fund managers saw an increased shift from UK equities to fixed income and global equities in 2005, according to an annual survey by Hymans Robertson.
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West Sussex reviews €950m Baillie Gifford brief
UK – Baillie Gifford could be axed as active balanced fund manager of the £1.4bn (€2bn) West Sussex County Council pension fund following the scheme’s regular review process.
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Blue Sky wins €150m Air UK business
UK – Blue Sky Group, which manages the pension assets of KLM, it to run assets of a UK scheme affiliated to the Dutch airline.
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Leicestershire axes BGI in review
UK – The £2bn (€2.9bn) Leicestershire County Council Pension Fund has axed Barclays Global Investors as manager of a roughly £400m multi-asset class passive portfolio following a review of the scheme structure.
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Mn Services names equities director
NETHERLANDS - Dutch fiduciary management firm Mn Services has named Patrick Wierckx as director of equities.
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Swiss schemes still cutting domestic securities
SWITZERLAND – Swiss pension funds have continued to cut their allocation to domestic bonds and equities, according to a report from Credit Suisse.
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External boards key for small schemes - AZL
NETHERLANDS - Small pension funds could extend their board with external professionals, as a way to guarantee their survival as an independent scheme, says Dutch pensions provider and asset manager AZL.
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IPE Real Estate Awards set for June
EUROPE - The IPE Real Estate Investor Forum and Awards 2006 are taking place at the Amsterdam Hilton on June 1.
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Espoo to recruit six fund managers
FINLAND - Finnish city, Espoo, is scouting for investment teams to manage a new €364m fund being created.
