All articles by Richard Lowe – Page 82
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News
Fund of funds managers switch to core and debt strategies
GLOBAL – Investment strategies in the fund of funds (FoF) sector have changed significantly over the past two years, and opportunistic and value-added products have lost out as a result, according to new research.
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Redington, M&G talk up UK social housing debt opportunity
UK – Pension funds in the UK are being encouraged to consider financing social housing as an alternative to inflation-linked bonds.
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Investors back L&G’s tried and tested industrial fund
UK – Legal & General Property (LGP) has raised new equity for its Industrial Property Investment fund (IPIF) following interest from existing investors to increase their exposure.
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CalPERS acquires 12.7% stake in London Gatwick Airport
GLOBAL – The California Public Employees' Retirement System (CalPERS) has acquired a 12.7% stake in London Gatwick Airport from Global Infrastructure Partners (GIP).
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Czech investors and foreign institutions go separate ways
CZECH REPUBLIC – Property transaction volumes in the Czech Republic have picked up in the first quarter of 2010 relative to the same period last year, as cross border and local investors targeted different ends of the market, according to DTZ.
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Swiss pension funds to invest in India and Japan this year
GLOBAL – AFIAA, the global property investor owned by 18 Swiss pension funds, is aiming to make real estate investments in Japan and India before the end of 2010.
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INREV committee calls for more independent fund directors
EUROPE – More European non-listed real estate funds must appoint independent directors to their management boards if corporate governance in the sector is to be improved, according to a new report.
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German investors to ramp up indirect real estate exposure
GERMANY – German institutional investors are expected to invest on average more than €300m in real estate during 2010 and more than €26bn in total over the next three years, a large proportion of which will be directed to indirect vehicles, according to two separate studies.
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USS continues to blaze UK acquisition trail
UK – Universities Superannuation Scheme (USS) has continued its 18-month UK real estate spending spree with the purchase of an office building in London's West End for £42m (€50.8m).
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Interest rate swaps blocking UK disposal pipeline, Savills says
UK – The prohibitive cost of unwinding interest rate swaps on real estate debt is preventing financial institutions from offloading a growing volume of distressed UK assets, according to Savills.
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US and Ireland set for spike in distressed sales
GLOBAL – Ireland and the US are expected to see a significant increase in distressed real estate sales in the short term, according to research from the Royal Institute of Chartered Surveyors (RICS).
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PGGM won over by SLI's responsible investment credentials
NETHERLANDS/UK – PGGM, the Dutch pension fund asset manager, has invested €75m in a UK shopping centre fund managed by Standard Life Investments.
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Survey shows UK pension funds to increase real estate exposure
UK – More than one-third of UK pension funds with existing real estate investments are actively looking to increase their exposure, while a small number remain unsure about the asset class, according to a survey by Aberdeen Asset Management.
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AP4 acquires €565m of Swedish residential assets
SWEDEN – The Fourth Swedish National Pension Fund (AP4) has made one of the largest ever residential investments in the country.
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MagazineCaution the watchword
Market sentiment is improving but fundraising remains slow. Growing competition in the core space means managers need to find creative solutions to meet demand. Richard Lowe reports
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Magazine
Mutual attraction
Altera’s approach that offers zero leverage and real core portfolios is proving attractive to Dutch pension funds looking for a low-risk way to invest in real estate profile, says Richard Lowe
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MagazineRetrenchment ending
The downturn saw German investors return to the familiarity of their home market. But their faith in international diversification remains strong, as Richard Lowe reports
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MagazineSwiss stay at home
The financial crisis and the stability of the home market have made Swiss pension funds reluctant to invest internationally. But can the Swiss market satisfy the growing demand from local investors? Richard Lowe reports
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Schroders defends international diversification
GLOBAL – The recovery in the global real estate markets will not be synchronised in contrast to the downturn, marking a return to the traditional benefits of diversification, according to Schroders.
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Investors have failed to learn lessons – Valente
GLOBAL – It is not clear whether real estate markets are going through a sustainable phase of recovery or whether it is an illusion driven by capital market liquidity, according to Joe Valente, head of investment strategy at Allianz Real Estate.
