No-shocks troupe

Article Abstract:

Clerical Medical is planning to undertake more joint ventures particularly in purchasing retail property, such as its acquisition of the shopping centre at Princes Square, Glasgow, Scotland, with Hermes, for over 35 million pounds. The management at Clerical Medical prefer to buy secondary industrial estates rather than warehouses. The property division is made up of 14 members of staff. Property has increased its share of the investment fund to about 10%-12% in 1997, from 8%-10%. The property fund is valued at 1.2 billion pounds sterling, with retail making up 46% of the fund.

Clerical Medical

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60 billion pounds sterling business

Article Abstract:

UK fund managers hold 56.5 billion pounds sterling in property assets. The 40 firms which manage these funds include major players Prudential and Conrad Ritblat, and boutiques OLIM and CIN-LaSalle. The major player amongst the property advisers, who deal with a total of 12 billion pounds sterling of the funds, is Jones Lang Wootton with a portfolio amounting to 3.5 billion pounds sterling. Fund managers operate in different ways. Some opt for traditional portfolios of prime real estate, whilst others look for high returns in areas including lease restructuring.

Institutional investments, Pricoa, Henderson

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LMS: 'a strange beast.'

Article Abstract:

London Merchant Securities (LMS) are slowly changing and becoming more open in their business dealing. The family-run company had pretax profits, for the year ended 31, Mar. 1999, of 45.6 million pounds sterling. Their share price performance has been very variable over the past few years. LMS has been investing in US property for around 35 years and they own offices worth $42.5 million in San Francisco. They are willing to undertake a major takeover of around 100 million-200 million pounds sterling. The company is also involved in a number of joint ventures.

London Merchant Securities

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