UK - The £16bn Royal Mail Pension Plan has put £20m into Schroder Property Managers' Hercules property unit trust.
Hermes Pensions Management – the scheme’s in-house fund manager – bought the units on the secondary market.
The Hercules fund specialises in the retail warehouse sector, and the addition of the Royal Mail scheme brings its total investor base up to 47, including 16 occupational pension funds, 12 local authority pension funds and four trustee companies.
The fund returned 24.7% during the 12 months to the end of March against 17.9% for the Investment Property Database retail warehouse index.
*Schroders has sold two retail parks, based in Salford and Sunderland, to insurance giant Prudential for over £50m.
The two properties were sold for £24.7m each, and the Salford-based Regent Centre covers 116,000 sq ft and its current tenants include TK Maxx, Argos, JJB Sports, Boots and Sports Soccer.
The other property, the Hylton Riverside Retail Park in Sunderland, is an 118,000 sq ft park and its key tenants include JJB Sports, MFI, Comet and Argos.
The Pensions Regulator (TPR) has set out plans to use "new regulatory initiatives" with over 1,000 schemes as it aims to tighten its regulatory grip and boost member outcomes.
HM Revenue and Customs (HMRC) has announced it is delaying the provision of data that will enable pension schemes to confirm the guaranteed minimum pension (GMP) benefits to pay to members until the end of the year.
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