UK - The Avon Pension Fund has has sold almost its entire property portfolio, despite the asset class being the top-performer over the last two years.
The sale of the 17 properties, on behalf of Bath & North East Somerset Council, to Glasgow-based LNC Property Group, raised £29.5m. Property adviser GVA Grimley provided strategic advice to the fund, following an investment review in 2000. Insignia Richard Ellis advised LNC Property Group.
GVA Grimley investment partner Neil Dovey said: “The disposal of this portfolio concludes the major part of the exercise which we have been undertaking since the trustees’ decision to disinvest from direct property.”
By Shifa Rahman
Daniel J. Graña of Putnam investigates how US's trade war with China will affect emerging market equities
Aviva Investors explains the growth and protection benefits investors gain from real assets
Royal London has announced that group chief executive Phil Loney has decided to stand down by the end of 2019.
Crashing out of the European Union without a deal could cause a 37% increase in the aggregate buyout deficit for defined benefit (DB) schemes, says Cardano.