Hibernian Life & Pensions announced today, Thursday 3 August, that since re-opening the Irish Property Fund has received very strong investor support with over €10m received in the first four weeks.
Hibernian Life & Pensions announced today, Thursday 3 August, that since re-opening the Irish Property Fund has received very strong investor support with over €10m received in the first four weeks.
John Donachie, product manager, Savings Investments and Funds, Hibernian Life & Pensions, said: “There continues to be strong interest in Irish property although more investors are looking at opportunities in fund based structures such as the Hibernian Irish Property Fund, which offer the opportunity to invest in a first-class portfolio of prime Irish properties.”
The Hibernian Life & Pensions Irish Property Fund was re-opened on 6 July. This followed the investment by Hibernian in the AIB Bankcentre property in Ballsbridge earlier this year. The Irish Property Fund is managed by Hibernian Investment Managers (HIM) and has returned 14.8% in the last 12 months and 18.7% pa in the three years to 30 June 2006. It is now valued at over €250m.
Other properties in the fund include: A-Wear, Grafton St, Dublin 2, HMV, Grafton Street, Dublin 2, Wallis, Patrick Street, Cork, Ormonde House, Earlsfort Centre, Dublin 2, Block 7, Clanwilliam Court, Dublin 2, 2 Harbourmaster Place, IFSC, Dublin and Kilcarberry Business Park, Co Dublin.
In addition to the Irish Property Fund, Hibernian Life & Pensions also offers a UK Commercial Property Fund and a European Residential Property Fund giving customers the opportunity to invest across different property markets. Hibernian Investment Managers has €13bn of Irish residents assets under management and is the top performing fund manager in the Irish market in 2006 according to the recent Mercer survey.
Hibernian Life & Pensions is a subsidiary of Hibernian Life Holdings, a joint venture company between Hibernian Group and AIB Bank for the provision of life and pensions services in Ireland.
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Press contact:
Marie Therese Culligan, 01 617 8164, 087 2367008, marietherese.culligan@hibernian.ie
Notes to editors:
- Hibernian is Ireland’s largest composite insurer, ranked first for general insurance and top three for life and pensions. It is backed by the strength of Aviva plc its parent company and the world’s fifth largest insurance group with life assurance operations in over 50 countries worldwide and funds under management of over €300 billion.
- Hibernian Life & Pensions reported 17% growth in Life new business APE in 2005. It employs over 800 people in Ireland. Its activities include pensions and life assurance, managing investments, general insurance and personal financial services. Hibernian Life and Pensions aim is to provide an efficient and professional service through a range of channels such as independent financial advisers, tied agents, financial institution partners, Hibernian branches and our website www.hibernian.ie.
- Hibernian news releases are also available on www.hibernian.ie