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
PP has analysed the accounts of the biggest pension consulting firms and recorded the turnover (revenue) in their most recent accounts. The full leaderboard is below…
UK defined benefit (DB) schemes have increasingly undertaken benefit reviews over the last four years resulting in an acceleration of scheme closures, Aon research finds.
Contributions are no longer sufficient to meet regular payments for three-quarters of small- to medium- sized defined benefit (DB) schemes, Buck analysis finds.