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UBS Asset Management (Europe) has successfully merged with Credit Suisse Fund Management, establishing a strong market position in Luxembourg, which serves as a strategic hub for the region. CEO Francesca Prym emphasized the importance of agility in navigating evolving European regulations and highlighted the firm’s commitment to diversity and inclusion while addressing industry challenges such as fee compression and rising costs. The launch of a unified global alternatives unit aims to enhance integrated solutions for clients, reflecting a collaborative 'One Bank' approach.
European defense spending is set to increase significantly in response to geopolitical tensions, particularly following Russia's invasion of Ukraine. The EU aims to boost its defense capabilities with an €800 billion plan, while countries like Poland consider constitutional minimums for defense spending. This surge in investment will necessitate expanded real estate footprints for defense contractors, as they seek to enhance manufacturing capabilities and reduce reliance on external suppliers.
European defense spending is set to increase significantly in response to geopolitical tensions, particularly following Russia's invasion of Ukraine. The EU aims to enhance its defense capabilities, with countries like Germany and Poland planning substantial budget increases. This shift necessitates a greater real estate footprint for defense contractors, who must expand production capabilities to meet rising demand.
European defense spending is set to increase significantly in response to geopolitical tensions, particularly following Russia's invasion of Ukraine. This shift aims to enhance self-sufficiency within the European defense industry, which has historically relied on external suppliers. As a result, defense companies are under pressure to expand their production capabilities, necessitating a larger real estate footprint to accommodate this growth.
The office sector is undergoing a transformation due to the work-from-home trend, prompting investors to rethink the use of empty office spaces. Olafur Margeirsson from UBS Asset Management highlights that while 5.6 million square meters of office space in the Paris region remain vacant, demand for prime, centrally located offices has surged, with tenants willing to pay for spaces that meet their evolving needs.
Copper has partnered with DigiFT to support UBS's uMINT token, the first tokenized investment fund from UBS Asset Management. This collaboration enhances custody support for uMINT token holders, leveraging Copper's institutional infrastructure to provide secure access to tokenized investments backed by high-quality money market instruments. DigiFT, a licensed exchange in Singapore, facilitates the trading of blockchain-based security tokens, ensuring compliance and liquidity for investors.
Scape Australia has transformed its flagship student accommodation vehicle into a A$6 billion ($3.8 billion) open-ended core fund, featuring a portfolio of 16,000 beds across 33 operational assets. UBS Asset Management joins existing investors such as APG, Bouwinvest, National Pension Service of Korea, and Ivanhoe Cambridge.
Scape Australia has transformed its A$6bn student housing fund into an open-ended core fund, attracting UBS Asset Management as a new investor. The Scape Core Fund will acquire a A$1.9bn portfolio of eight assets, bolstered by A$1bn from existing investors, including APG and South Korea’s National Pension Service. This structure aims to provide strong cash flow and growth potential while minimizing exit risks, with the fund set to manage 16,000 student beds, including its largest asset in Melbourne.
UBS Asset Management has appointed Larissa Belova as the Chief Investment Officer and portfolio manager for U.S. direct real estate, marking the establishment of a new position within the firm. This strategic move aims to enhance their focus on the U.S. real estate market.
Larissa Belova has been appointed as CIO and portfolio manager for the U.S. direct real estate team at UBS Asset Management. With over 22 years of experience in commercial real estate, she previously managed a diversified open-end core fund at CBRE Investment Management, overseeing strategy, investments, and client relations. Belova's expertise spans various asset types, including logistics, multifamily, retail, and office properties.
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