European investors – Page 245
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MagazineNot out of the woods yet
Ian Whittock forecasts double-digit returns on existing stock for 2010 but longer term he’s cautious on the risks of a stalling economy
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Magazine
Paris: Suburban moves
Victoria Scalogne reports a trend for larger corporates to relocate to the outskirts
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MagazineHighs and lows
Before real estate markets across Europe begin to show signs of a significant recovery, there will have to be an improvement in the area’s economic fundamentals. Nicole Lux and Richard Plummer report
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News
German property redemptions could carry two-year waiting period
GERMANY – Investors in German open-ended real estate funds will have to abide by a two-year holding period before redeeming their shares, if government plans come to fruition.
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Pension funds outperformed with property investments
UK – Pension funds outperformed the International Property Databank’s (IPD) benchmark of 3% for all participating UK funds in 2009, because they owned prime property and bought largely ahead of the market rally in the second half of the year.
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Danish pension funds take on sustainable office development
DENMARK - Danish pension funds PensionDanmark and Lægernes Pensionskasse, and Swedish financial group Nordea Life have purchased a sustainable office development in Denmark through a joint venture.
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Aegon AM launches fund targeting smaller properties
UK – AEGON Asset Management is the latest fund management group to launch a fund targeting smaller real estate assets in the UK, as the market for prime property becomes increasingly competitive.
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Europe's biggest pension fund given top-line real estate guidelines
NORWAY - The Norwegian Ministry of Finance has today revealed the Government Pension Fund-Global fund will in future be invested in real estate as planned, albeit investments will be made over a long period of time, in a bid to reduce risk.
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Lack of purchasing stocks shifts attention to secondaries
EUROPE – A lack of prime real estate being placed on the market is forcing investors to consider secondary assets or to focus on opportunities arising from banks.
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Responsible investment fund to develop UK care homes
UK – A new socially-responsible real estate fund backed by local authority pension funds has invested in the UK care home sector.
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Aberdeen claims core European real estate has bottomed
EUROPE – Aberdeen Property Investors has begun buying real estate again for its core pan-European institutional fund now that it believes many of the continent’s prime markets have bottomed out.
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L&S makes 36% gain on 9-mth investment
UK – London & Stamford Property, the listed company managed by Raymond Mould and Patrick Vaughan, has sold a UK office building for £51.3m (€56.6m), nine months after buying it for £37.6m
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Manchester pension fund to rebuild office eyesore as beauty
UK – The £7.39bn (€8.48bn) Greater Manchester Pension Fund, the largest local authority scheme in the UK, has been given the green light for a major office redevelopment project in Manchester city centre.
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German property faces fresh freeze
GERMANY – Open-ended real estate funds in Germany have suffered another bout of redemption freezes following writedowns in property valuations.
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LGP is latest to drive inflation-linking real estate
UK – Legal & General Property (LGP) has become the latest fund manager to offer defined benefit pension funds access to real estate providing inflation-linked income.
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Pension funds pile into UK property
UK – Pension funds and other institutional investors poured more capital into the UK real estate market in the fourth quarter of 2009 than during any other three-month period on record, according to the Association of Real Estate Funds (AREF).
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UK pension funds to tap smaller property deals
UK – A number of large UK corporate pension funds will take advantage of a neglected segment of the real estate market through a new fund managed by First Property Asset Management (FPAM), a subsidiary of First Property Group.
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IPD update forces questions about UK recovery
UK – The latest results from Investment Property Databank’s (IPD) UK quarterly property index have prompted fund managers to question the sustainability of the market’s recovery.
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Property bounce aides Belgian pension funds
BELGIUM – A study of 90 active pension funds by consultancy Mercer suggests Belgian pension funds returned a median of 18.5% on investments by the end of 2009, thanks to a rally in equities and real estate.
