UK - Ashtenne Holdings is to sell off £132.7m of property to the Ashtenne Industrial fund.
Ashtenne has a 13% interest in the fund and is its asset manager. The portfolio comprises 82 industrial and office properties which bring in £10.3m in rent each year.
The company said it was selling the properties because the current strength of the secondary industrial investment market presented a good opportunity to realise “substantial” gains for shareholders.
This week's top stories include ITS' management buyout from Mercer, and The Pensions Regulator launching a probe into single-employer defined contribution schemes' default funds.
People retiring in the UK will on average outlive their pension savings by 10 years, according to research by the World Economic Forum (WEF).
Steps to improve auto-enrolment are uncontroversial and obvious, but the government is dawdling on introducing the necessary changes, argues Jack Jones.
Professional trustees will be expected to apply for accreditation as part of a framework intended to be launched on 1 July by the Professional Trustee Standards Working Group (PTSWG).