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News: Credit Suisse to run GE Life property portfolio.(Credit Suisse Asset Management)(GE Life and Annuity Assurance Co.)(Brief Article)
Financial Times Mandate, February, 2003
The UK property arm of Credit Suisse Asset Management has won the mandate to manage GE Life's UK property portfolio. Valued at about GBP540m the assets are divided into three distinct portfolios, with one requiring an income return to fall in line with insurance regulations.
"Credit Suisse Property Investment Management (CSPIM) won out over several property managers we looked at," said Gavin Hill, chief investment officer of GE Insurance Holdings. "It had a good record and we thought it was in tune with our own ideas, in particular, it already holds portfolios with similar characteristics," he added.
The property portfolio originally belonged to National Mutual, which was acquired by GE in April last year. Since then the property portfolio has been...
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