UK - East Anglian pension schemes are being targeted by a new fund which is investing in quality properties in the region.
Property consultant Bidwells is looking to secure £35m for the fund which will invest in up to 15 properties including office buildings, shops, leisure outlets and industrial premises.
The fund will run for seven years, and the property consultant is aiming for a return of around 9% a year. No one investor will be able to own more than 15%. Minimum investment is £250,000.
Bidwells managing partner of the commercial division, Keith Crocombe, said the fund would be large enough to invest in a spread of properties to minimise risks.
Fund managers Mayfair Capital Partners and Kingfisher Property Partnerships are to launch the fund.
Railways Pension Trustee Company chief executive Phil Willcock has quit the scheme after only 10 months to take up a position as head of AIG UK Life.
The Financial Conduct Authority (FCA) has launched a consultation on how to enable defined contribution (DC) savers to invest in patient capital via unit-linked funds.
The Pension Protection Fund has published its final levy rules for 2019/20 following a consultation launched in September.
The Competition and Markets Authority's (CMA) final report on the investment consultant market has been celebrated as having "real teeth" to produce better outcomes for members.