HUNGARY - AXA Real Estate Investment Managers (AXA REIM) has opened an office in Budapest as the next stage of its expansion into Central Europe.
Headed by John Verpeleti, head of Central Europe, the office’s main responsibilities will be to manage the existing investment portfolio as well as service the current buying requirements for AXA REIM’s pan-European real estate funds.
Initially, the acquisition focus will be Czech Republic, Hungary, Poland and Slovakia. The team then plans to monitor emerging real estate markets elsewhere in Central and Eastern Europe. Verpeleti said: “The opening is a very logical extension to our extensive presence in Western and Southern Europe, where close to 400 staff manage over €26 billion of real estate assets.”
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.