All Regulation articles – Page 28
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Enrichment claims send ‘inadequate’ OMERS board to court
CANADA - Ontario’s appellate court has passed for trial the main substance of a claim arguing the CA$48bn (€32bn) Ontario Municipal Employees Retirement System (OMERs) pension scheme was duped into “unjust enrichment” of directors of its real estate management firm.
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Danish pensions eye local infrastructure
DENMARK – DANISH pension funds say they would welcome to chance to invest in infrastructure projects which could be opened by the government for public-private partnerships (PPPs), ahead of a report from the Infrastructure Commission.
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Philips scheme dismantles real estate portfolio
NETHERLANDS – The besieged €14.6bn pension scheme of Dutch electronics major Philips has sold around 15% of its real estate holdings to Dutch real estate investment fund Vesteda.
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Jelmoli ups ante in Swiss saga
EUROPE - In the latest round of an aggressive game of brinkmanship, Swiss retailer Jelmoli is to sue Delek for breach of contract after the London-listed Israeli property firm’s pulled out of a deal to acquire Jelmoli’s 88-property Swiss portfolio.
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Reits design described as “wrong”
GLOBAL - European Reits are being formulated to appeal to the “wrong audience”, according to Europroperty Consulting.
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Director arrested in Philips pensions fraud
NETHERLANDS - Dutch fraud police have arrested the former and current directors of real estate at PREIM, the real estate arm of the €14.5bn Philips pension fund, as part of their investigation into fraud connected with the scheme’s property portfolio.
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Fitch rethinks property fund managers
GLOBAL - Ratings agency Fitch has claimed its revamped rating system for real estate asset managers would better reflect not only the proliferation of specialist and niche funds but also the increased sophistication of investment mandates.
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Industry pushes for EU REIT
EUROPE - Five industry bodies including the European Property Federation (EPF) are pushing the European Commission to introduce an EU REIT regime, in a bid to transform a fragmented European market into “the largest and likely most efficient property market in the world”.
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Industry optimistic for Danish REITs
DENMARK - Denmark could be the next European market to introduce real estate investment trusts (REITs), if lobbying by the Danish Property Federation (DPF) proves successful.
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Slovakia to stymie pension property plan
SLOVAKIA - The Slovak government is to scotch a legal amendment that would allow second-pillar pension schemes to invest in real estate.
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PCA 'conflict of interest' forces CalSTRS' shop
UNITED STATES - California State Teachers Retirement System is planning to hire a new real estate consultant for the first time in 10 years.
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UK government to invest €2.4bn in infrastructure
UK - The UK government is to plough £1.7bn (€2.4bn) into boosting infrastructure for planned ‘new’ towns and growth areas over the next three years.
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Shareholders vote to keep F&C trust open
UK – Investors in the F&C Commercial Property Trust have voted overwhelming for the continuation of the company, despite an earlier drop in its performance.
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INREV data 'will make fees more transparent'
EUROPE - New guidelines have been published which are expected to increase the transparency of management fees for private property funds.
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Sustainability to split real estate pricing - DTZ
EUROPE – Real estate manager DTZ is predicting Europe will eventually develop into a two-tier property market which prices less energy-efficient real estate at a discount.
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Closed-end real estate feels UK pricing pressure
UK – Investment trust managers predict UK investors will increasingly turn to overseas real estate to seek diversification in a weakening domestic market.
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'Strategic' greenfields tap into residential potential
UK – Pension funds seeking slightly higher returns on real estate portfolios are being encouraged to turn their attention to ‘strategic land’ investments in greenfield developments.
