The io Group and AXA Real Estate Investment Managers have announced the first closing of the European Industrial Partnership (EURIP), the high-yield cross border industrial property fund.
International institutions including PGGM; KPN Pension Fund; The Government of Singapore Investment Corporation (GIC); and members of the co-sponsors' Group, AXA, have committed to the initial target of EUR220m. The initial investment will be geared to fund an investment programme of up to EUR550m. The investment strategy of EURIP is to acquire built, income-producing industrial estates, to be branded and managed under the established io system, which offers units within multi-let estates on flexible terms. A future dimension of this fund is expected to include a development programme, similar to the io development programme in the UK.
The Pension Protection Fund (PPF) has published contingency planning guidance for trustees to help them manage risk.
The trustees of the Autoenrolment.co.uk and Moore Stephens master trusts have been fined for "deficient" chair's statements after failed court action against The Pensions Regulator (TPR).
Henry Tapper shares his thoughts on how IGCs could provide value for money statements that people wanted to read