Real Estate – Page 87
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Features
Retail therapy for funds
Many of the major US pension funds are investing in retail properties through a single-account manager. One of these is the California Public Employees Retirement System (CalPERS). The pension fund has an interest in a wide variety of assets. These include everything from regional malls to grocery-anchored shopping centres. One ...
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News
Allianz’s DEGI cuts German real estate holdings
GERMANY – Real estate fund provider DEGI plans to cut the German holdings of its core German fund, after the fund was hit by €271.5m in net outflows in the first 11 months of this year.
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Thomas named president of Morgan Stanley IM
GLOBAL – Owen Thomas has been named as president of Morgan Stanley Investment Management, taking over a role vacated by Mitchell Merin in September.
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PGGM may pay pensions in kind
NETHERLANDS - The Dutch health care scheme PGGM is looking into paying pensions partly in kind, its chairman Karel Noordzij has said.
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News
DeAM, Trinkaus in running for Henkel CTA
GERMANY – Industry sources say Deutsche Asset Management and HSBC’s Trinkhaus Capital Management may be in line to advise chemicals firm Henkel on its planned contractual trust arrangement – an external fund to finance more than €1bn in pension liabilities.
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Dutch schemes losing out on bonds - statistics
NETHERLANDS – Dutch pension funds and insurers’ fixed income portfolios returned –0.2% in the third quarter of 2005, according to the national statistics office.
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Dutch schemes in deal with Altera Vastgoed
NETHERLANDS – The Stork and PNO Media pension funds are to transfer their €90m Dutch real estate portfolio to, and become shareholders in, real estate group Altera Vastgoed.
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ATP named best European pension fund 2005
EUROPE – Denmark´s ATP has been named overall Best European Pension Fund in 2005 at the annual IPE Awards in Berlin. It was also named Best European Public Pension Fund as well as scooping the top award for Denmark and risk management.
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MEAG targets third-party growth
GERMANY – MEAG, the asset management arm of reinsurance giant Munich Re, plans to expand its third-party business by between 25-30% annually, according to Robert Helm, managing director at MEAG responsible for third-party business.
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KPN reaches new pension agreement
NETHERLANDS -- Telecoms giant KPN has reached a new two-year collective labour agreement (CAO) with Dutch trade union ABVAKABO FNV under which in addition to a structural salary increase of 1.5% from January 2006 and 1.5% from January 2007, KPN has agreed to pay 2% of a salary into the ...
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Loss of key people impacts Norway’s Petrol Fund
AMSTERDAM – The loss of key people is the main reason why fund managers are fired by the Norwegian Petroleum Fund, according to its chief executive Knut Kjær.
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KarstadtQuelle denies pension trust report
GERMANY – KarstadtQuelle, Germany’s second-biggest retailer, has denied that it is tapping its own contractual trust arrangement (CTA) for €200m in capital to reduce long-term debt.
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MSIM hires ex-GSAM European equities co-CIO
EUROPE - Hywel George, former co-chief investment officer of European equities at Goldman Sachs Asset Management, has joined rival Morgan Stanley Investment Management.
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News
PGGM consortium buys €1bn real estate portfolio
NETHERLANDS – Dutch health care fund PGGM is part of a consortium that is buying retailer Vendex KBB’s real estate portfolio in a sale-and-lease-back agreement.
