UK - The £9.3bn British Airways Investment Fund has appointed property managers FPDSavills to manage three of its properties. The properties which FPDSavills will manage are Printworks in Manchester, Atlantic Wharf in Cardiff and Avonmeads in Bristol.
The fund – which has £600m invested in property – is comprised of assets from New Airways Pension Scheme and Airways Pension Scheme.
The appointment will increase the property manager’s portfolio to a total of £4.5bn in the UK.
FPDSavills head of property management Sally Gandan said: “We are delighted to have been selected by BA Pension Fund to work hand-in-hand with them on the management of three of the UK’s leading retail and leisure complexes.”
The British Airways Investment Fund combined has 46,338 members. The company in the UK has 51,022 employees.
The fund was advised by British Airways Pensions Investment Management.
By Shifa Rahman
This week's edition of Professional Pensions is out now.
The government is in talks with the UK and Irish pensions regulators over how to protect members of cross-border schemes in the event of a no-deal Brexit.
The equalisation of guaranteed minimum pensions (GMPs) is at least two years away from being completed, and could take longer than four years for some schemes, a poll has found.
The Pensions Regulator will consider if schemes should be required to have professional trustees and assess the case for greater regulation of administrators and system providers, PP can reveal.