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Reits continue outperformance of US equities with strong April returns, says Nareit

Thu, 15 May 2008, 22:40



Buoyed by its second consecutive month of outperformance, the FTSE Nareit All Reit Index has soundly outperformed other major market benchmarks so far in 2008, according to the US National Association of Real Estate Investment Trusts.
Alps and Cohen & Steers launch global real estate ETF

Thu, 15 May 2008, 06:00



Cohen & Steers has announced the launch of a global real estate exchange-traded fund, adviser by Alps Advisers, which offers investors an opportunity to participate in the income streams and diversification benefits of global real estate securities.

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ICICI seeks USD3 billion for India private equity, property funds

Thu, 15 May 2008, 05:35


Bloomberg

ICICI Bank Ltd, India's second biggest lender, plans to raise as much as USD3 billion for two funds as it competes with Morgan Stanley and Deutsche Bank AG to invest in the world's second-fastest growing major economy. ICICI Venture Fund Management Ltd. will tap investors for a USD1.5 billion private equity fund starting next week, and may raise an equal amount for a real estate fund, Chief Executive Officer Renuka Ramnath said in an interview in Mumbai. The division currently manages about USD2.5 billion in assets.

Property funds offer Thai investors an alternative

Thu, 15 May 2008, 00:04


The Nation

Choosing which property fund to invest in may be a different ball game altogether from selecting a bond or equity fund. For one, property funds in Thailand - at least the big ones - often invest in one property category such as shopping complexes or commercial buildings, and are therefore, in themselves, not as well diversified as mutual funds that invest in stocks. For instance, a terrorist scare or epidemic can turn shopping malls into urban graveyards. However, it is precisely a property fund's singularity that inves-tors are looking for to complement the volatility in the stock market.

Real estate investment is only for the involved

Wed, 14 May 2008, 20:02


MyIris

There used to be a belief till recently that when Equity Markets rise, Real Estate markets fall (like a See-Saw). Events of the last 2 years in India have however turned this belief onon its head. Even as experts opined that a correction was around the corner, the road to Real Estate has turned into a freeway paved with riches. But obviously look for the caveats. How can we or most of us benefit from this? As with all forms of investment, there are easy ways and there is the road less traveled. The easy way would be that of investing in a Real Estate Fund.

Land Securities: it could have been much worse

Wed, 14 May 2008, 16:36


Investors Chronicle

Land Securities reported its best ever performance against the widely-followed IPD Index. So it's testament to the dire state of the UK commercial property market that the real estate investment trust's (Reit) property portfolio still fell in value by a chunky GBP1.3bn to GBP13.6bn. Still, this 8.8 per cent fall should be compared with the IPD's 14 per cent drop.

Boardwalk REIT funds from operations up 25 per cent

Wed, 14 May 2008, 15:53


Globe Investor

Boardwalk Real Estate Investment Trust said on Wednesday its funds from operations, a key measure of performance for real estate companies, rose 25 per cent in the first quarter, helped by strong revenue growth in its Western Canadian operations. The REIT reported FFO of CAD27.7 million (USD27.7 million), or 50 Canadian cents per diluted unit, for the three months ended March 31, compared with CAD22.8 million, or 40 Canadian cents per diluted unit, in the year-earlier period.

Indiabulls property trust prepares for Singapore listing

Wed, 14 May 2008, 14:45


Finance Asia

The trust could raise about USD190 million based on an assumed offering price of SGD1 per unit and become only the second Singapore property trust to offer exposure to India. Singapore-listed property trusts have had a tough time over the past six months with significant falls in share prices so it is no surprise that new listing candidates have stayed well away from the market. But the IPO drought may soon be over as Indiabulls Properties Investment Trust (IPIT) looks set to launch an offering of about SGD260 million (USD190 million) within the next couple of weeks, following the start of pre-marketing at the end of last week.

Godd orning Vietnam property fund

Wed, 14 May 2008, 12:06


Asian Investor

Protego's new real estate fund plans to raise USD200 million for residential property development in Vietnam. Protego Real Estate Investors is launching the Protego Qudos Vietnam Property Fund. It plans to raise USD200 million to invest initially in five high-end residential projects in Vietnam. It is an eight-year, closed-end fund denominated in US dollars that targets returns of 25% net. There is no leverage planned at the project level.

Centro will defend class action

Wed, 14 May 2008, 12:02


NineMSN

Debt-laden Centro Properties Group Ltd said on Monday it would vigorously defend a class action brought against it by shareholders over it allegedly not disclosing the true state of its finances. The class action has been brought against the troubled property group and CPT Manager Ltd - the responsible entity (RE) for Centro Property Trust - in the Federal Court in Melbourne.

Buyers return to property derivatives

Wed, 14 May 2008, 09:15


FT.com

Buyers are returning to the commercial property derivatives market to take advantage of the low prices offered on indirect investments in the beleaguered sector. Traders say there is increased optimism that the rock-bottom derivatives prices represent a buying opportunity in the UK, although the US and French markets are still under pressure owing to prevailing negative sentiment.

State Street starts real estate, mid-cap ETFs

Wed, 14 May 2008, 08:45


Ruters

State Street Global Advisors on Tuesday launched an exchange-traded fund that invests in global real estate and another that invests in international small-cap stocks. The SPDR DJ Wilshire Global Real Estate ETF RWO.A and the SPDR S&P International Mid Cap ETF MDD.A have their primary listing on the American Stock Exchange.


CB Richard Ellis Investors closes USD2.1bn US real estate funds

Thu, 15 May 2008, 06:00



Real estate investment manager CB Richard Ellis Investors has announced the closing of CB Richard Ellis Strategic Partners U.S. 5, which consists of two limited partnerships, having raised equity commitments of USD2.1bn from institutional investors in the US, Europe and the Middle East. The funds are closed to new investors and are expected to have total purchasing power of USD6.4bn including leverage.

European real estate firms show wide variance in corporate governance, says Epra

Wed, 14 May 2008, 11:59



Corporate governance standards in listed property companies vary widely across Europe, according to a study released by Epra, the Amsterdam-based European Public Real Estate Association
CB Richard Ellis Investors names Sabina Kalyan as head of European strategy

Wed, 14 May 2008, 06:00



Real estate investment management firm CB Richard Ellis Investors has announced the appointment of Sabina Kalyan to a newly-created London-based position of European head of strategy.
Capita Financial Group appoints administration director in Guernsey

Wed, 14 May 2008, 00:10



Capita Financial Group, which recently established a dedicated office in Guernsey, has appointed Julian Lane as administration director, responsible for operations and administration on the island.
Alternative managers account for increasing share of asset management M&A

Tue, 13 May 2008, 06:00



Sales of alternative investment firms account for a record 40 per cent of deals in the global investment management business so far in 2008, according to Jefferies Putnam Lovell, an adviser on alternative investment transactions and the division of Jefferies Group focused on the asset management and financial technology industries.
Epra calls on European property firms to move to standard reporting

Mon, 12 May 2008, 16:30



Europe's property companies need to move toward standard reporting practices to enable investors to compare firms transparently across the industry, according to Epra, the Amsterdam-based European Public Real Estate Association, as it launches its Best Practices Policy Recommendations
Central and Eastern European real estate fund popular with Gulf investors

Mon, 12 May 2008, 06:00



Swiss-based Faisal Private Bank, Bahrain-based Shamil Bank and Sharjah Islamic Bank have launched a EUR150m Sharia-compliant Central and Eastern European Real Estate Fund, which takes diversified exposure on development and income-generating real estate assets in Central and Eastern Europe and has a term of five years.
Blackstone Group and Morgan Stanley top private equity real estate firms

Sun, 11 May 2008, 18:18



The Blackstone Group and Morgan Stanley Real Estate are the world's largest private equity real estate firms, according to the PERE 30, a new ranking of private equity real estate firms produced by Private Equity Real Estate magazine, part of the PEI Media group.
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