UK roundup: Lancashire County Council, KFIM, HSBC Life

first_imgThe UK’s Lancashire County Pension Fund has bought an industrial estate in the north of England through Knight Frank Investment Management (KFIM) for £7.8m (€9.7m) from Anglesea Capital and Hudson Advisors.The purchase price of the 142,220ft2 multi-let Walton Summit Industrial Estate in Preston, Lancashire, reflected a 7.3% yield, said KFIM.The estate is occupied by chemicals manufacturer Evans Vanodine, courier company Yodel and brewing equipment firm Three Nations.Lewis Ellis acted for KFIM in the deal, and CBRE represented the seller.  Meanwhile, HSBC Life (UK) – a subsidiary of the HSBC Holdings group – is selling its UK pensions manufacturing business to Admin Re Group, part of the Swiss Re Group.A spokesman for HSBC said the sale was part of the bancassurance strategy HSBC Holdings had been following for the last few years, aimed at simplifying the business and deploying capital more effectively.The UK subsidiary will continue to offer pension products, but no longer package them itself, he said.Under the terms of the transaction, HSBC will sell its corporate and individual pensions policies, and an associated annuities book.Around £4.2bn of underlying assets under management formed part of the deal, and about £4bn of this was managed by HSBC Global Asset Management (UK), the group said.HSBC Global Asset Management will continue to be the investment manager of these underlying assets.The deal also included a reinsurance agreement with ReAssure whereby HSBC has transferred certain economic risks and rewards of the business to ReAssure from 1 January 2014 until the deal completes.The transaction is subject to regulatory and law court approvals and is expected to complete in the second half of 2015.last_img read more

No Huth for Foxes

first_img They return with Leicester in desperate need of a home win after just two league victories at the King Power Stadium this term. The record does not do the Foxes justice and it is a source of frustration for boss Nigel Pearson. “We are aware of the fact our home form has to improve, there’s no doubt about it. Before a ball is kicked you know your home performances and results are going to be very important,” Pearson said. “We haven’t played that badly, that’s one of the things which has been frustrating for us. We have had plenty of good performances but the results haven’t always come. We’re confident that will change.” Palace come to Leicester unbeaten in five games since Alan Pardew was appointed last month. Pearson is out to end Pardew’s fine start, although he admits the pressure is on his Foxes team. “People would look at a game like Saturday, whatever camp you sit in, and hope your team is capable of winning,” he said. “In some ways that puts more pressure on games like this. Ultimately, at our best, we are going to be a difficult team to play against. The defender, who signed on loan from Stoke on deadline day, was banned for two games and fined £15,000 by the Football Association after breaching rules in relation to social media comments, and is halfway through the suspension. Matty James is available after suspension, Riyad Mahrez is back following Algeria’s African Nations Cup campaign and Matt Upson is available after a long-term foot injury. Press Association “We have a healthy respect for people and on their day Palace are a very capable side. We have to make sure we’re getting our home form right and pick up three points. “We have been in the bottom spot for a while so it’s always an incentive to know three points gives you a chance to progress.” Pardew will throw non-league signing Keshi Anderson straight into the squad. Anderson, 19, joined Palace on deadline day from Barton Rovers, who play in Southern League Division One Central – seven tiers below the top flight. The striker has scored 19 goals for Rovers this season but secured his move after notching a six-minute hat-trick against Palace in a trial match for Brentford. “Six minutes isn’t bad is it? He’s just got a chance, that’s what it is,” Pardew said. “It’s an opportunity for him, he trained with us today and I’ve put him in the squad tomorrow. “It’ll be good experience for him to come to see what goes on and his headlights are still full on.” Palace will be without captain Mile Jedinak for the trip to the Foxes after the midfielder returned from helping Australia win the Asian Cup with a sore ankle. Yannick Bolasie is also unavailable. The winger is at the African Nations Cup with DR Congo, who play a third-place play-off on Saturday. Robert Huth is suspended so cannot make his Leicester debut against Crystal Palace on Saturday. last_img read more