Real Estate – Page 89
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South Yorkshire in corporate governance tender
UK – The £3bn (€4.4bn) South Yorkshire Pensions Authority has tendered for a corporate governance advisor.
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UK Universities scheme backs Fprop with £50m
UK – The £20bn (€29bn) Universities Superannuation Scheme, the UK’s second largest pension fund, has awarded a £50m mandate to property asset manager First Property Group.
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Dutch real estate boost seen amid FTK, ageing
NETHERLANDS - The ageing of the population, and the new financial assessment framework, or FTK, will lead to a considerable increase of pension funds’ investments in real estate, says the Dutch weekly Beleggers Belangen.
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AP3 eyes more portfolio diversification
SWEDEN – Tredje AP-fonden, the Third National Pension Fund or AP3, says it plans more diversity in its portfolio – including areas such as emerging markets, international real estate and infrastructure.
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Irish postal scheme in €1.6bn revamp
IRELAND – The €1.6bn pension scheme of the Irish postal service An Post has restructured its manager roster with the help of consulting firm Mercer.
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Threadneedle names Nordic distribution head
NORDIC – Threadneedle Investments has named Thomas Berglund as head of Nordic distribution, responsible for the developing the firm’s business in Sweden, Norway, Denmark and Finland.
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Skanska scheme taps Standard Life for bonds
UK – The £210m (€308m) pension fund of construction company Skanska UK has invested £80m to fund a pooled specialist UK bond portfolio with Standard Life Investments.
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Reuters awards custody to Bank of NY in revamp
UK - The £650m (€953m) Reuters Pension Fund, the main UK scheme of the news and data group, has awarded a custody mandate to the Bank of New York after a revamp.
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Low rates hit German industry schemes
GERMANY - German industry schemes known as Versorgungswerke have reported a slight decline in the annual return on their investments owing to low interest-rates.
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Delta Lloyd hit by €240m mandate loss
NETHERLANDS – Delta Lloyd says its flow of new investments “fell back” in the first half – partly due to the withdrawal of a €240m mandate.
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Danica Pension makes 8.5% return in first half
DENMARK – Danica Pension, the pension and life insurance arm of Danske Bank, made an 8.5% return on assets in the first half of 2005.
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Heitman promotes ex-ABP real estate exec Spencer
EUROPE - Otis Spencer, the former real estate executive at ABP Investments who joined US real estate firm Heitman LLC recently, has been promoted in a management shake-up.
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Pearson pension scheme manager retires
UK – Pam Jenkins, secretary and manager of the £1bn (€1.5bn) defined benefit group pension of publishing group Pearson, has retired.
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Dutch painters scheme puts €225m with Altera
NETHERLANDS – Altera Vastgoed says it has been awarded €225m of real estate assets by the Dutch painting industry fund BPF Schilders.
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MN Services’ legal head Pelle moves on
NETHERLANDS – MN Services’ head of legal and fiscal affairs, Willem-Jan Pelle, is moving on after 11 years with the pension management company.
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ABP continues UK real estate moves
UK/NETHERLANDS – Stichting Pensioenfonds ABP, Europe’s largest pension fund, has continued to buy into UK real estate firms, according to company filings.
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Standard Life under scrutiny at South Yorkshire
UK – The £2.8bn (€4bn) South Yorkshire Pension Fund is seeking an advisor for a £220m commercial property portfolio – putting incumbent Standard Life Investments under scrutiny.
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SWIP pre-tax profits quadruple in 1H05
UK - Scottish Widows Investment Partnership (SWIP) posted first-half pre-tax profits that quadrupled mainly due to new institutional business.
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AXA IM to buy Framlington Group Ltd for €252m
UK – AXA Investment Managers (AXA IM) is poised to buy boutique Framlington Group Ltd from HSBC Holdings and Comerica Inc for £174m (€252.1m).
